General consolidated budget revenues and expenses, up in thrid revision of 2014

The revenues and expenses of the general consolidated budget go up some RON 1.32 billion in the balance and the general consolidated budget deficit will be kept as nominal value at 14.713 billion and as share in the gross domestic product (GDP), at 2.2 percent, according to the emergency ordinance draft setting the legal framework for the third budget revision for 2014.

This draft, released by the Public Finance Ministry, is aimed at the anticipated payment of the quota corresponding to 2015 for the salary rights won in court by the public sector employees, as well as the integral payment of the arrears of the administrative-territorial units, on the grounds of registering a budget surplus accounting for 0.29 percent of the gross domestic product.

According to the memorandum of reasons of the draft law, the state budget revenues for 2014 go down in the balance by RON 1.995 billion, following the reduction in the VAT by RON 2.082 billion, representing amounts extracted from the VAT allotted to the local budgets and the increase in the income and salary tax by RON 87.6 million.

The state budget expenses in 2014 go down by RON 76 million. The personnel expenses increase by RON 779.9 million, the expenses on goods and services go up by RON 64.9 million, the expenses with the interest rates drop by RON 70.7 million, the subsidies increase some RON 207.5 million, the transfers among public administration units go down by RON 1.634 billion, other transfers increase by RON 119.8 million, the social assistance expenditures grow by RON 60 million, other expenses go up some RON 564.3 million, the expenses corresponding to the reimbursable funding programmes go down RON 36.1 million, the capital expenses diminish by RON 73.6 million.