ECONOMY FINANCE&BANKING

FinMin Teodorovici announces budget revision on August 5. Revision bill, ordinance expected to be made public soon

The date on which the budget revision bill will be on the government’s table is August 5, and today or early tomorrow morning, at the latest, the revision bill will be published on the website of the Ministry of Finance along with an ordinance of measures, Finance Minister Eugen Teodorovici said Wednesday at the Government House.

“On revision, we need to discuss separately, because it will be a very much discussed topic and that is why I will not go into details now. Instead, I can actually tell you and repeat what I have been saying for a long time: the Finance Ministry does not cut funds, because we do not have such legal power. It may discuss reallocation of funds, but each minister will come before you. I will present the macroeconomic issues and then my colleagues, in each area, will explain to you the funds they have at their disposal, the stage of implementing the budget, and all the elements you want to find on each sector separately. July 31 was the deadline we originally proposed for this revision. You know very well that the meeting of the Supreme Council for National Defence (CSAT) was a little delayed; I do not comment on why, which is why, by default, the date for this revision to reach the government’s table has been postponed as well. The planned date is August 5, which is next. We approve it on Monday, that is our planning. You will see today on the website – we will have to publish it on the website today – let’s say early tomorrow morning at the latest – both the budget revision and the ordinance of measures – because, you know very well, there will also be some measures we have proposed for discussion, analysis and decision to the government, which will be approved bundled with the budget revision,” Teodorovici told a news conference.

Asked if the ceiling for the taxation of large pensions will be 7,000 lei, as reported by sources, Teodorovici did not want to confirm, saying he did not “go into details now.”

He gave assurances that people on small pensions will not be affected, reiterating that this taxation of large pensions, starting with a certain ceiling, is “an act of social justice.”

Regarding a statement by the Alliance of Liberals and Democrats (ALDE), minor at rule, that it does not agree with the cuts, as part of the revision, of investments or cuts in the budgets for the basic ministries – transport, education or health – Teodorovici said that he always combined the left leanings with right ones and no one can reproach him of cutting investments.

Teodorovici also spoke about structural reforms in the public system, stressing that it is not about redundancies.

Asked about the budgets of the intelligence services, the minister did not want to mention sums, arguing that a separate discussion is needed on this subject, in order not to downplay the issue.

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