Moldovan cabinet approves rectifications of 2016 state budget

Chisinau, 1 December /MOLDPRES/ - Amendments and completions to the 2016 state budget law were approved at a cabinet meeting today. The document sees increases by 325.5 million lei for both incomes and revenues, without changes of the budget deficit, the government’s communication and media relations department has reported.

The arguments of increasing the state budget revenues have been dictated by the improvement of the foreign trade in the second half of this year, which positively influences especially the collections managed by the Customs Service. Thus, the government estimates that these revenues will increase by about 330.1 million lei from the value added tax (VAT) and duties on import till late 2016. The cabinet approved also adjustings and redistributions between types of grants and other revenues, with an overall reduction of 1.6 million lei.      

As for the expenses, the most important amendments deal with the financing of public authorities. In particular, it is about a rise of 224.3 million lei in the transfers to the state social insurances budget, so that the institution could cover its budget deficit. Additionally, 13.1 million is earmarked for the National Social Insurances House (CNAS) for paternal allowances and another 5.4 million lei for the payment of social benefit and the assistance for the cold season of the year.    

The government approved to increase the transfers from the state budget to the local budgets by 103.2 million lei. The money is meant to level financial possibilities, pay debts for capitals works and payment of social benefits.     

Under the 2016 state budget law, the revenues will stand at 29 billion 641.6 million lei, the expenses – at 33 billion 824.4 million lei, and the deficit will amount to 4 billion 182.8 million lei. The document is to be passed by the parliament.  

(Editor M. Jantovan)