Moldovan parliament makes amendments to law on public finances

Chisinau, 13 July /MOLDPRES/ - The independent budgetary authorities will set their budgets based on new rules. The parliament today approved a draft law in the first reading, which provides for the amendment of the law on public finances and budgetary and fiscal responsibilities.  

According to the authors, the present legislation will be completed with articles on the responsibility of the head of the independent budgetary authority, if the Court of Accounts issues a contrary opinion or if the external public auditor refuses to issue an opinion on the financial situation.   

In the context of international practices of fiscal transparency, the authors propose to abrogate the stipulations on the approval by the parliament of medium-term macro-budgetary limits. At the same time, decision-makers propose to extend by one month the term of presentation to the parliament of the half-yearly report on the fulfillment of the national public budget for this year.    

Also, the local public administration authorities will be obliged to bring their budgets in line with amendments made to the state budget law. It will also be necessary to complete the law with regulations on the volume of transfers from other budgets, which is to be included in the temporary budgets of beneficiaries, if the provisional budget is formed and fulfilled.

Under the legislation in force, 11 independent public authorities approve their budgets separately from parliament. The legal provisions on the elaboration and approval of the budgets of these authorities differ from one law to another, which implies a non-uniform treatment of these stipulations.

(Reporter A. Zara, editor A. Raileanu)