The finance ministry on Monday posted on its website for the purpose of public consultation its first budget adjustment bill this year. The ruling coalition formed by the Social Democratic Party, the National Liberal Party, the Save Romania Union and the Democratic Union of Ethnic Hungarians in Romania eventually agreed, after intense talks, on a version of the bill that is now subject to public debate. The main figures on which the bill is based, given the country\u2019s complicated economic situation, are a deficit of 8.4% of GDP, an increase in the general consolidated budget by around 600 million euros and of spending by almost 5.6 billion euros.<\/p>\n
According to the explanatory documents, additional funds are needed to ensure obligatory expenses with priority, namely the payment of salaries and pensions, medical care, free transport for pupils, funding for the Anghel Saligny local infrastructure programme or funds to compensate for the energy bills of vulnerable private users.<\/p>\n
All of this in the context in which the economic growth level estimated at the start of the year has failed to materialise and the inflation rate has remained high, at around 10% at the moment. According to the finance minister Alexandru Nazare, the budget adjustment made by the government will guarantee the payment of obligatory payments, ensures the running of public institutions, maintains the confidence of European and international partners and keeps public investment at a record level of over 30 billion euros, to support economic growth and jobs.<\/p>\n
The main beneficiaries of additional funding are the finance ministry, mainly for the payment of the loans made by Romania in the past and of the corresponding interest rates, the ministries of labour and development, agriculture, energy, the economy, justice and education. At the opposite end, less funding is earmarked to the ministry of investments and European projects, healthcare, transports, foreign affairs, the government\u2019s general secretariat and the special telecommunications service. The government is to approve the budget adjustment bill this week.<\/p>\n","protected":false},"excerpt":{"rendered":"
The finance ministry on Monday posted on its website for the purpose of public consultation its first budget adjustment bill this year. The ruling coalition formed by the Social Democratic Party, the National Liberal Party, the Save Romania Union and the Democratic Union of Ethnic Hungarians in Romania eventually agreed, after intense talks, on a […]<\/p>\n","protected":false},"author":109,"featured_media":856540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[29547],"coauthors":[115219],"class_list":["post-933054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-budget"],"acf":[],"yoast_head":"\n