The executive approved the draft state budget law and draft social and health insurance budget laws for 2016 in its May 18 meeting, IPN reports.

Under the draft laws, the incomes of the national public budget this year will be about 48.512,4 billion lei, an increase of 11% on 2015. These will represent 36.3% of the GDP, up 0.5 percentage points on last year.

The state budget incomes will total 31.378,9 billion lei, up 3.340,6 billion lei or 11.9%. The external grants will represent about 7.8% of these incomes. The European grants will represent 94.3% of the grants intended as budget support.

The state budget provides for a total expenditure of 52.784,4 billion lei, an increase of 6.321,3 billion lei or 17.1% on 2015. The spending of the mandatory health insurance funds is by 13.3% higher, of the state social insurance budget - by 11.2% higher, while of the local budgets – by 2.7%.

Some 32.9% of the public expenditure will be used for social protection, 17.5% for education, while 12.8% for healthcare.

The deficit of the 2016 national public budget is 4.272,0 billion or 3.2% of the GDP. This will be covered with internal and external recourses, including by issuing and redeeming state securities, privatizing public property and using the foreign loans intended for financing projects and supporting the budget.

The draft laws are to be adopted by Parliament.