2013 Budget Bill approved in two readings

Parliament has approved in two readings the 2013 Budget Bill, providing for incomes of 22.7 billion lei and expenses of 23.6 billion lei, with a resulting deficit of 0.9 billion lei. The Communists and Socialists refused to endorse it. Finance Minister Veaceslav Negruta said in 2013 revenues to the National Public Budget (NPB) are expected to stand at 37 billion lei and spending is estimated at 38.1 billion lei. According to Negruta, the 2013 Budget's goal is to help the Government further implement key structural reforms while creating conditions for achieving the objectives of budgetary and fiscal sustainability and of providing state financing for key spending, without resorting to emergency assistance from outside, and by keeping the level of the NPB deficit at 1.14% of GDP. Presenting other highlights of the Budget Bill, the Minister said annual economic growth will stand at 5%, and so will inflation, exports and imports will rise by 13 and 10 percent respectively, and the average monthly salary will increase by over 11% to 3,950 lei. 67.4% of the total public spending will be social expenses, followed by economic expenses, with 14.3% of the total. By the end of 2013, government debt is expected to increase by 1.1 billion to 21.6 lei. The groups that refused to endorse the Bill criticized it for being “directed against the population”, “poorly drafted”, and for “pursuing narrow interests”.