2015 draft state budget law approved

The 2015 draft state budget law, approved by the Government on April 3, provides for an expenditure of 34.315 billion lei and for incomes of 30.338 billion lei. The incomes will represent 25.6% of the GDP, an increase of 0.7 percentage points compared with 2014. The budget deficit will be almost 4 billion lei, IPN reports.

Under the draft law, the agriculture subsidization fund will be 610 million lei, 110 million lei of which will come through the EU-funded Sector Budget Support on Economic Stimulation in Rural Area (ESRA) Project. 180 million lei will be allocated through the Competitive Agriculture Project financed by the World Bank for supporting the producers affected by the bans imposed by Russia on the export of agri-food products. More than 177 million lei is to be transferred to the Energy Efficiency Fund.

The spending on education will rise by 2.4%, while the allocations to the budgets of the territorial-administrative units will increase four times. The healthcare expenditure will be by 14% higher. The allocations for the energy and fuel sectors will rise 3.6 times, while for maintaining public order and national security by 12.9%.

Though the costs for economy were raised, the state budget continues to be social in character.

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