Revenue hike and expenditure stagnation shape 2012 budget
The state budget for next year has been allocated in the context of a deficit of RON 17.1 billion, with revenues of RON 95.65 billion lei, up 13.5 percent on the RON 84.26 billion of revenues projected for this year, and total expenses of RON 112.8 billion, similar to this year’s level
December 2011 - From the Print Edition
Given the deficit and growth targets agreed by the Government with the International Monetary Fund (IMF), the consolidated budget deficit should fall to RON 12.1 billion, RON 5 billion less than the state budget deficit.
IMF mission chief Jeffrey Franks said the projection for next year indicates GDP of RON 575 billion, while the deficit will not exceed 2.1 percent of GDP.
The cuts will largely be made from the budgets of the Ministry of Finance (approximately RON 1.1 billion) and the Ministry of Labor (RON 755 million), followed by Agriculture (RON 145 million), Environment (RON 80.4 million) and Education (RON 50 million).
The budget of the General Secretariat of Government will also be reduced by RON 15.4 million, while the Romanian Academy will lose RON 10.4 million. The majority of the additional funding will be awarded to the Ministry of Health (RON 1.23 billion) to finance existing health programs.
The Ministry of Transport will receive an extra RON 727 million, required to pay debts and expenses incurred through transportation facilities for pupils and students. Of this sum, RON 500 million will be used to increase the social capital of CFR Infrastructure.
|
|
| |
|
Daily Info |
Smart city is not a fad, it's a necessity In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo... |
Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers" "We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u... |
Telekom Romania, a strong supporter of Smart City development in Romania Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society... |
In the industrial era, the fight was for finite material resources. Not anymore Now organizations fight and develop themselves for and around their talent.
In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e... |
Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania" Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p... |
|
|
|
|
|
|
|
|
advertising
advertising
advertising
|
More on News |
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania. |
Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a... |
ArcelorMittal receives binding offer for European assets from Liberty British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people. |
Revolut gets European banking license Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has fi... |
The Romanian labour market needs a well-thought approach, says FIC The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w... |
Dacia receives 115.8 million RON in state aid from the Finance Ministry The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million. |
EBRD cuts economic growth forecast for Romania Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an... |
|