The Government adopted the second amending budget on 2012
Less money will get the ministries of labour, economy, culture, defense, SRR and SRTV. The appropriations will be supplemented at the agriculture, health, education, justice, SRI.
Articol de Florin Matei, 28 Octombrie 2012, 10:51
The Government has approved the drafts of Emergency Ordinance for rectification of the State budget and State social insurance budget for 2012.
The adjustment is based on the revised economic growth falling to 1 per cent against the level of 1.2 per cent taken into account at the first correction of the budget in August 2012, while the budget was originally built on a rise of 1.8-2.3 per cent , according to the draft of the Ordinance concerning the adjustment of the budget, published by the Ministry of Finance.
Consolidated budget deficit will be maintained at 13,66 billion, representing 2.2 per cent of GDP.
Correcting budget ordinance provides that the revenue of the state budget will be lower over one billion lei, by lowering the VAT amounts received from the EU payments account, income tax and wages.
Spending will be increased to 307 million to cover the costs of staff, procurement and agricultural subsidies.
The rectification will be supplemented at the agriculture appropriations, health, administration, education, justice, regional development and tourism, SRI.
The Government cut expenditure covered from the state budget for the Senate, MSC, ICCJ, public radio and television and some ministries, including Culture and Defense.
Ministry of Labour and the Ministry of Economy will lose the most part of money, 65 and 51 million lei.
Extra money for the pension system
The Government adopted and draft social insurance budget for 2012.
According to the document, by applying the new provisions can be ensured timely and full payment of state social insurance for all main credits authorising officers of this budget.
To this end, in terms of a reduction in the current revenue of the public system of pensions shall be increased by the subsidy granted from the state budget to the amount of 175,6 million lei, are shown in the interpretative document to rectify social insurance budget for year 2012.
The European Bank for Reconstruction and Development has revised down estimates of the evolution of the Romanian economy in 2012, due to the crisis in the euro area, according to the latest revised forecasts of the EBRD.
Romania's gross domestic product would register this year, an increase of just 0.5 percent, compared with 0.8 per cent that estimates the EBRD in July.
Translated by
Denisse-Meda Bucura
MTTLC, Bucharest University
