Moldovan parliament votes state budget for 2019 in final reading

Chisinau, 30 November /MOLDPRES/ – The state budget law for 2019 was voted today by 58 MPs in a final reading.

The revenues of the state budget for 2019 are expected to be in the total amount of MDL 42,125.5 million, with an increase compared to the current one by MDL 5,203.5 million or 14.1 per cent. The amount of 88.6 per cent of revenues come from taxes and fees, up 12.6 per cent from 2018. The grants for budget support and for the projects financed from external sources are forecast to be in the amount of MDL 1,960,2 million. Other revenues will amount to 6.7 per cent.

The expenditures of the state budget for 2019 are expected to amount to MDL 47,664.2 million, with an increase of MDL 5,679.7 million or 13.5 per cent over the projected expenditures for 2018. The financial means will be directed for the Road Fund, including the National Public Road Repair Programme, National Fund for Agricultural and Rural Development, Energy Efficiency Fund, National Ecological Fund, the National Fund for Regional Development, Population Support Fund and Fund for Vine and Wine.

The increase in the allowances is provided for social protection – MDL 2207.0 million or 29.9 per cent more than in 2018, for services in the economy – MDL 737.2 million or by 9.9 per cent more than 2018, for education – MDL 647.2 million or 6.5 per cent more than in 2018.

The budget deficit is estimated at MDL 5,538.7 million and it is to be covered from both external and internal sources.

According to estimates, the state debt balance at 31 December 2019 will not exceed MDL 63,011.5 million, of which 59.1 per cent of external state debt and 40.9 per cent of domestic state debt, which represents an increase of MDL 6,035,0 million against the debt at the end of 2018.

According to authors, the forecast for economic development, fiscal and customs policy objectives for 2019 stood at the base of budget. The macroeconomic forecast indicates that Gross Domestic Product (GDP) will grow by 4.0 per cent compared to 2018. According to estimates, in 2019, the national public budget revenues will increase by 9.4 per cent compared to 2018, spending – by 9.7 per cent, budget deficit reaching 2.7 per cent of GDP compared to 2.6 per cent in 2018. Also, the exports will increase in 2019 by about 13.1 per cent and imports by 9.4 per cent. The labour remuneration fund will increase in nominal terms by 9.4 per cent.