The MPs on December 15 adopted the 2018 state budget law in the final reading by 55 votes in favor. According to the head of the Parliament’s commission on budget and finance Stefan Creanga, the document was designed based on the economic development forecast for 2018-2020 and the objectives of the fiscal policy for 2018, IPN reports.
The budget provides for revenues of 36.6 billion lei, an increase of 8.4% on this year, and for an expenditure of 41.3 billion lei, up 9.4%. The budget deficit is of 4.7 billion lei.
The allocations planned for 2018 will go to cover the priorities in the fields of activity, according to the national and sector policy documents, to continue reforms initiated in such areas as social protection, education, health, public order and justice, to implement the legislation on remuneration in the budget-funded sector and the projects and measures specified in the agreements signed with the development partners.
The same day, the MPs passed the fiscal and customs policy for 2018 in the final reading. The document is aimed at strengthening the institutional capacities of the state in order to accumulate revenues and optimize fiscal and customs administration and to reduce the proportions of tax evasion.
Under the law on public finances and budgetary-fiscal responsibility, the annual budget laws are examined and adopted in two readings. The general indicators of the budget, such as the revenues, expenditure and deficit, are adopted in the first reading, while in the second reading the MPs consider each article apart or, as a whole, taking into account the submitted proposals and objections.
