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Ialomiteanu: 2011 deficit target stays 4.4% of GDP, after budget rectification

Public Finance Minister Gheorghe Ialomiteanu said in the end of the Government's Wednesday meeting that the 2011 deficit target stays 4.4 percent of the GDP, after the budget rectification, and specified that the revenues and the expenditure went up by 3.2 billion lei, each, this year.

The International Monetary Fund, the World Bank and the European Commission and we were discussing the entire budget rectification. I want to say that the 2011 deficit target stays 4.4 percent of the GDP, after the budget rectification, while the revenues went up by 3.2 billion lei, and the expenditure alike. We had in view the continuation of the investments and the payment of the arrears. For the state-run companies where we have a very important objective, namely their reorganization and making then profitable, we had to take some measures and to get arrears extinct, because the reforms' enactment is not possible if these companies are in debt,' FinMin Ialomiteanu said. He added that the state-owned companies are allocated 1.4 billion lei, in all, to pay their debts, and a fiscal space is searched for to have investments continued.

According to the Government Ordinance on state budget rectification draft, six ministries are to receive money to get debts of their main credit release authorities extinct, but the amounts will not affect the 2011 consolidated deficit.The six ministries are the Ministry of Transport and Infrastructure, the Ministry of Administration and Interior, Public Finance Ministry, the Ministry of Agriculture and Rural Development, the Ministry of Trade and Business Environment and the National Defense Ministry.

Sursa: http://www.actmedia.eu

Tags: budget rectification ministry after stays deficit target ialomiteanu