Moldovan finance ministry proposes to rectify 2015 state budget
14:11 | 15.10.2015 Category: Economic
Chisinau, 15 October /MOLDPRES/- The Finance Ministry has proposed to rectify the state budget for 2015, in order to cut revenues by 3.9 per cent and expenses by 4.6 per cent. Under a rectification draft, approved by the government today, the state budget revenues are to be reduced by 1 billion 186 million lei, and expenses – by 1.59 billion lei.
The revenues will be adjusted, as a result of “recent macroeconomic developments and forecasts by late 2015, temporary freezing of foreign budgetary support by the development partners, supplementing social assistance and support for the cold season, in connection with the increase in electricity and gas rates,” Finance Minister Anatol Arapu said.
The imports’ decrease above the forecast value while working out the budget will have a significant impact on budget revenues. A decrease in imports by 23 per cent against 15 per cent was forecast, calculated when estimating budget revenues; as a result, incomes amounting to 1 billion 578 million lei will be missed, the finance minister said.
Budget revenues are cut by 578 million lei, due to temporary suspension of budget support from EU. The support may be unlocked only if Moldova signs an agreement with the International Monetary Fund.
According to the Finance Ministry, the current expenses will be cut by about 530 million lei, and capital expenses – by over 1 billion lei. The ministry proposes that the Road Fund should be diminished by 485 million lei, and expenses for the construction of the Ungheni-Chisinau gas pipeline – by 300 million lei, given that the expertise and design works were not completed.
As the budget support from the EU for justice reform, initially scheduled for 280 million lei, will not be provided, the actions will be carried out according to the available financial resources of authorities.
The national public budget deficit is estimated at 4 billion 123 million lei or 3.44 per cent of the Gross Domestic Product, against the earlier approved figure of 4 billion 640 million lei.
(Reporter V. Bercu, editor M. Jantovan)
