Cabinet adopts 2013 budget

The government approved this year’s draft budget yesterday, the document set to be sent to Parliament for amendments and final vote, Finance Minister Daniel Chitoiu announced yesterday at the end of the government meeting. He pointed out that this year’s draft budget focuses on Romania’s economic growth, on growing macroeconomic indicators, is geared towards investments, European financing and the reduction of arrears. According to the latest data presented by the Finance Ministry, the budget is built on an economic growth target of 1.6 per cent and a GDP of RON 623.3 bln. The consolidated budget’s revenues are projected at RON 209.2 bln (representing 33.6 per cent of GDP), while the expenditures are projected to reach RON 222.6 bln (35.7 per cent of GDP), the deficit thus being expected to stand at RON 13.3 bln (2.1 per cent of GDP). At the same time, the draft 2013 budget aims for an annual inflation rate of 4.3 per cent and an average exchange rate of RON 4.5/EUR. Also, Finance Ministry published yesterday the fiscal – budget strategy for 2013-2015 period. Premier Victor Ponta stated on Tuesday that the 2013 budget is realistic: “It’s a budget we can integrate with, with which we can keep our most important promises, keep the investments and use a lot more money to co-finance European projects,” the Prime Minister stated. He asked the ministers to personally show up before the Parliament’s special commissions when they will discuss the budgets of the ministries they are leading. The 2013 budget is built on an economic growth of 1.6 per cent, revised downwards by the government from 1.8 per cent following its talks with the IMF. At the same time, Ponta asked Mihai Voicu, delegated minister for the relation with Parliament, to ask all Parliamentary groups for the Premier to present the draft project “along with the two ministers,” referring most likely to Finance Minister Daniel Chitoiu and delegated Budget Minister Liviu Voinea .

Government will ask for a confidence vote for returning properties

The government will ask the Parliament for a confidence vote, until April at latest, for a draft law on the legal regime of returning properties Voinea said. He added that, in order to compensate former owners whose properties have been seized by communists, the draft budget for this year provides only the sums resulting from final and executory court decisions, which amount to approximately RON 500 M in total.


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