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Posted by: Mazur Rodica

News / Economic

08 Sep. 2020 / 14:30

The draft amendment to the State Budget Law, approved by the profile commission

The draft law amending the State Budget Law for 2020 obtained the positive report of the Economy, Budget and Finance Committee of the Parliament, for the first reading.

Among the basic factors that determined the changes made are the adjustment of budgetary indicators based on the revision of the forecast of the main macroeconomic indicators; the evolution of the national economy under the pressure of the effects of the COVID-19 pandemic and of the natural calamities; reducing costs for some non-priority programs. At the same time, the amendments introduced provide additional support for farmers by reimbursing value added tax; supplementing the funds of the obligatory medical assistance insurance and of the state social insurance budget, including for the increase of the single aid for the beneficiaries of pensions from 700 - to 900 lei starting with October 1 this year.

Thus, based on the changes made, the volume of the state budget for 2020 decreases in revenues - by 649.5 million lei to 37,201.5 million lei, in expenditures - by 1,856.7 million lei to 53,200,9 million lei. Respectively, the deficit decreases by 1,207.2 million lei: from 17,206.6 million lei to 15,999.4 million lei, which constitutes 7.8% of the Gross Domestic Product.

The project was developed by the Ministry of Finance. According to the authors of the project, all the reassessed parameters were coordinated with the experts of the International Monetary Fund during the discussions on the new Government Program with the IMF.

The draft law for amending the state budget is to be debated in the plenary of the Legislature. This is the third rectification of the state budget since the beginning of this year.

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