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State budget deficit of 4.7 bln euros in 2009 (3.25 pc of GDP)

State budget draft on 2009, submitted by the Ministry of Public Finance (MFP) to trade unions and employers' unions, provides revenues of 75.7 billion lei (13.07 percent of the Gross Domestic Product (GDP) and expenditure of 94.5 billion lei (16.32 percent of the GDP), with a deficit of 18.819 billion lei (some 4.7 billion euros at an average exchange rate of 4 lei for 1 euro) - 3.25 percent of the GDP.

The consolidated general budget deficit is programmed at 2 percent of the GDP, which is estimated at 579 billion lei or 144.7 billion euros.

Fiscal revenues to the state budget are estimated at 64.8 billion lei, of which tax on profit, income and capital gains - 19.93 billion lei and VAT revenues estimated at 44.41 billion lei.

From the company profit tax the state plans to gather 19.93 billion lei, to which another 750 million lei is to be added - tax on commercial banks profit and 4.69 billion lei in individual income tax.

As for the budgetary spending chapter, the state budget draft provides personnel spending of 15.68 billion lei, goods and services expenditure - 4.429 billion lei, interest rates spending - 5.2 billion lei, subsidies - 4.26 billion lei, transfers to the public administration - 11.79 billion lei, social assistance spending - 17.86 billion lei, other transfers - 14 billion lei.

From the value added tax 17.608 billion lei are earmarked for local budgets, of which 2.022 billion lei for financing decentralized spending at county level, 12.136 billion lei for financing decentralized spending at the level of communes, towns, municipalities, Bucharest districts and municipality, 551.8 million lei are earmarked to finance spending on county and communal roads, 1.983 billion lei to balance the local budgets of communes, towns, municipalities and counties, 914.2 million lei to finance the Programme of infrastructure development and of some sports arenas in rural areas, to be apportioned to the counties and eligible projects, through Government decision.

The amounts derived from the value added tax for financing decentralized spending at the county level are destined to the system of child's protection and to the social assistance centers for people with disabilities, financing the milk and roll programme for elementary school children I-VIII grades - state education system and for pre-school children in public kindergartens with normal 4-hour programme, financing spending connected to the granting of honey as a nutritive supplement to pre-school children and I-IV grade pupils enrolled in the state education system and confessional system, spending afferent to the special education system and to the county centers for educational resources and assistance, to decentralized culture institutions, starting with 2002, to the payment of contributions for non-clerical staff employed by religious cults units in the country, to community public services.

 

Sursa: http://www.rompress.ro

Tags: billion spending state system euros budget deficit financing mfp euro

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