The 2016 state budget will be increased by 328 million lei both in terms of revenues and spending without modifying the budget deficit (4.1bn lei), IPN reports.
Changes are needed given the adjustment of the budget revenue indexes, the rise in transfers from the state budget to the state social insurance budget for covering the deficit in connection with the decline in own incomes compared with the projected ones and in order to ensure the payment of social welfare and cold-month allowances and the special destination transfers to local budgets.
According to the Ministry of Finance, the state budget revenues will rise on the basis of VAT and other taxes levied by the Customs Service on foreign trade operations.
It should be noted that the revenues of the state social insurance budget this year decreased by over 205 million lei. Also, financing for paying paternity leave was allocated from this budget for the first time this year. The value of social welfare and cold-month allowances grew following the rise in the number of recipients.
The Government also decided to increase the Ministry of Education’s budget by 3.8 million lei for paying allowances to children who remained without parental care from vocational and professional schools, universities, children’s homes and boarding schools managed by the Ministry.
