The local administration finalized and presented the daft municipal budget for next year to the Chisinau Municipal Council for approval. The budget deficit is of over 450 million lei, IPN reports.

The budget provides for revenues of 3.1 billion lei and a total expenditure of 3.6 billion lei. The budget deficit will be covered with money projected to be earned from the sale of fixed assets and with funds from external and internal sources of financing.

A sum of over 123 million lei was earmarked in the 2017 municipal budget for repaying foreign loans.