Moldova's national public budget for 2018 to be supplemented by almost one billion lei

Chisinau, 10 May /MOLDPRES/ - The government today approved a draft on the rectification of the budget, which provides for the increase of revenues to the national public budget by 963.9 million lei and of the spending - by 1 billion 312.5 million lei.   

At the presentation of the rectifications to the state budget law, Finance Minister Octavian Armasu has said the adjusting of the budgetary indexes was prompted by the revision upwards of the forecasts of the main macro-economic indexes, coordinated with experts of the International Monetary Fund, revision and prioritization of the programmes of expenses, implementation of new programmes which had not been approved in the state budget law for 2018.  

Thus, according to the new provisions, a Gross Domestic Product (GDP) of 163 billion lei will be hit, against 160 billion lei, as anticipated when working out the budget; the inflation will be lower and the exchange rate of the national currency, estimated for late 2018, will be of 16.79 lei for one dollar, against 17.90 lei, as forecast earlier. Also, the rectification was dictated by the ensuring of the further implementation of the central public administration reform.

Under the draft, the budget deficit will increase by 348.6 million lei and will account for 3.1 per cent of the GDP.

The increase in the state budget revenues by 303.5 million lei is proposed at the expense of increasing the incomes from taxes and duties and diminution of the incomes from grants. The state budget spending is proposed to be grown by 652.1 million lei. As for expenses, the increase of the current revenues is proposed, for assets and services, allocations for staff to ensure a ten-per cent increase in office salaries for the employed staff based on the Single Tariff Network, as well as for strengthening the capacities of public authorities created/reorganized and organization of local polls. The expenditures for subsidies will be increased by 992.1 million lei, up to 3,877.6 million lei, of which 800 million lei – for the programme of repair of national, local, village roads and streets.   

On the other hand, decision-makers suggest a cut in expenses for capital investments, transfers to the state social insurances budget, etc.

The draft on rectification of the state budget law for 2018 will be submitted to parliament for consideration.

(Reporter V. Bercu, editor M. Jantovan)