Moldova's state budget for 2015 adjusted to budgetary indicators

Chisinau, 15 October /MOLDPRES/ - The cabinet today approved a draft on rectification of the 2015 state budget, the government's communication and media relations department has reported. 

The need to amend the state budget is triggered by the adjusting of the budgetary indicators to the revenues, proceeding from the recent macroeconomic developments and forecasts till late 2015, revision of entrances of grants and loans to budget, given the temporary freezing of the foreign budgetary support by the development partners. Also, the amendments aim at identifying financial resources, in order to supplement the social assistance and the cold season aid, in connection with the increase in the electricity and gas rates and revision of programmes on spending; the latter are to be fit into the updated estimations of the framework of resources, with the goal to ensure, first of all, the functionality of the state's institutions, on the present difficult period from the economic and financial viewpoints. 

As a result of the estimations and assessments, against the sums approved per year, the state budget is to be cut, in terms of revenues, by 1.186 billion lei - 3.9 per cent, 1.590 billion lei in terms of expenses - 4.6 per cent and by 4.4 million lei - 10 per cent,  as for the resources of financing the state budget deficit.

The main factors leading to the diminution of the budget revenues are low collections  in the value added tax (VAT) and other payments concerning the value decrease in the foreign trade, drop in export far over the value forecast while working out the budget, temporary suspension of the budgetary support by the European Commission, etc.

To enter into force, the draft on rectification of the 2015 state budget is to be passed by the parliament. 

(Editor M. Jantovan)