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Bucharest
October 18, 2021
ECONOMY FINANCE&BANKING

Budget deficit below 2 pc of GDP in 2015

The Government will hold on Friday a special meeting that will focus on this year’s second budget revision. Prime Minister Victor Ponta emphasized yesterday that the budget revision is in line with the targets assumed and agreed with international financial institutions, including the targets that concern the budget deficit. The latter is expected to stand at 1.86 per cent of GDP at the end of the year.
“The budget revision will keep us within all targets we have established both in the state budget and with international financial institutions… Considering that now we still have a budget surplus, we should at least be able to spend all money, not on salaries but in the project areas, so that we should reach 1.86 on local investments, on public investments,” Ponta said at the start of the Government’s weekly meeting yesterday.
The Premier pointed out that this budget revision will be positive too. “We have more money than estimated in the budget law. It’s first of all the merit of ANAF, which tackled tax evasion, and the merit of the policies we approved,” Victor Ponta said.
He stated that lowering the VAT on foodstuffs to 9 per cent led to budget revenues higher than they would have been had the VAT been kept at 24 per cent.
“So it’s a positive revision, a revision in which we were – thank God – able to implement roughly all the requests you have made in what concerns the medical doctors’ salaries, Transports, heating, local authorities, roughly all that you have asked for. And, obviously, now everyone has got used to the normal, there is no kind of problem with salaries, with the way institutions work. Several years ago this was the exception and we were glad when it happened. Now it has become normal and this is the most important thing,” Ponta emphasized.

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