At the same time, the Fiscal Council said that the 2015 budget deficit seems to be adjusted by cutting expenses with goods and services (by 0.6 percentage points of GDP), as the information available at the moment do not indicate other clear means, according to “Opinion on the State Budget Law and the Social Security Budget Law for 2015”.
Thus, the Fiscal Council said it will present a detailed opinion next week, after it gets and analyzes the full documentation.
Romania’s consolidated budget revenues are estimated for 2015 at RON226.36 billion (EUR51.5 billion), or 31.9% of the gross domestic product, according to the budget draft published by the Finance Ministry. The budget expenditure is seen at RON239.36 billion, or 33.7% of GDP, taking thus the budget deficit to 1.8% of GDP next year.
The budget is based on an economic growth of 2.5% estimated for 2015. The gross domestic product is seen at RON709.68 billion next year, while the inflation rate is predicted at 2.2%.
In 2014, the consolidated budget revenue is estimated at RON218.83 billion, while expenditure is planned at RON233.54 billion, corresponding to a deficit of 2.2% of GDP.
The Ministries of Labor, Development, Finance, European Funds, Agriculture, Environment, Transport, Economy will receive extra funds in 2015, while the Ministries of Health, Culture and Interior will have lower budgets, according to the budget draft published by the Finance Ministry Thursday.