Parliament passed the state budget law for this year in the third, final reading. The budget provides for revenues of 48.5 billion lei and a total expenditure of 52.7billion lei, with a deficit of 4.2 billion lei. As many as 51 MPs of the 83 attending the sitting voted in favor of the budget, IPN reports.

The incomes represent 36.3% of the GDP, an increase of 0.5 percentage points compared with the budget for 2015. The 11% increase in incomes is generated by the rise in grants provided as budget support. Over 60% of the incomes will come from taxes and duties.

The expenditure is by 17.1% higher on last year. The budget-funded programs account for 38.6% of the expenditure. 32.9% of the spending will go on social protection, 17.5% on education, while 5.1% on health. The costs associated with services in the economy will represent 12.5%.

It is planned that the budget deficit will be covered mainly with external financing and also with internal resources earned from privatization.

When the vote was over, Speaker of Parliament Andrian Candu congratulated the MPs and the people, saying the Republic of Moldova ultimately has a budget for 2016.