Budget draft completed by Friday, ready for IMF mission

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It seems that the call made last week by the president in function Traian Basescu on the Executive to table the draft budget for next year as soon as possible, as a major priority has mobilized government authorities.

Thus, the 2015 draft budget will be completed by Friday and will begin being debated by the Parliament after December 10, minister-delegate for Budget Darius Valcov announced on Monday, Agerpres informs.

“(…) There will be days off till Tuesday, when the European Commission and the IMF come. We will put this budget to debate from (December) 2 till 10 and probably on December 10, when the Commission leaves, we will put it to Parliament for debate. I would very much like to have it finalized by the end of the session, namely by around December 19 I think we might be on schedule with the budget approval”, Valcov said.

He added he is certain the opposition lawmakers will vote for the draft budget.

The minister-delegate stressed the investments from EU funds will be a priority and that additional fiscal relaxation measures are being considered, such as cutting the value-added tax (VAT).

“We are considering some additional fiscal relaxation measures, but I cannot say which they are till Friday. The premier will communicate them. We can think of slashing the VAT too…Following the negotiations and discussions we will have with the IMF, it is possible for certain products, but it is also possible that we think of the overall (VAT cut)”, Valcov explained.

“The mission is dedicated strictly to the budget bill, this is not a mission for the review of Romanian commitments towards the IMF under the precautionary agreement signed with the representatives of foreign lenders. Subsequently to the talks with the representatives of the international financial institutions, the bill on next year & prime’s budget will be subjected to public debate and referred to the Government for approval,” according to an IMF press release.

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