State budget law for 2020 to be amended

Chisinau, 3 September /MOLDPRES/- Today cabinet members approved a draft law amending the State Budget Law for 2020. According to Deputy Prime Minister Serghei Pușcuța, the basic factors that determined the changes are: adjustment of budgetary indicators based on forecasts of major macroeconomic indicators agreed with International Monetary Fund experts, evolution of the national economy under the pressure of COVID-19 pandemic and natural disaster; need to identify additional resources for spending programs that are currently a priority, and to review spending programs, given the current execution and capacities to turn to good account allocations approved by late 2020.

State budget revenues will amount to about 37.2 billion lei, with a decrease of 649.5 million lei (or 1.7%) compared to the approved volume. Main reductions are proposed for VAT on imported goods, grants received from international organizations, receipts from paid services, foreign trade taxes, excise duties on goods produced in the country etc.

State budget expenditures are proposed to decrease by about 1.8 billion lei (or by 3.4%), compared to the approved volume and will amount to about 53.2 billion lei. Also, projects financed from external sources are reduced by 1.1 billion lei.

According to Prime Minister Ion Chicu, revised budget indicators, included in the above-mentioned bill have been agreed with IMF experts.