Over 67% of 2012 budget expenditure earmarked for social needs

Of the total expenditure of the national public budget for next year, 67.5% will be directed to the social sphere. These costs will represent 26.5% of the GDP, Minister of Finance Veaceslav Negruta said when presenting the draft budgetary-fiscal policy and draft budget law for 2012 in a meeting, Info-Prim Neo reports. The economic expenses will make up 14.4% of the total national public budget expenditure, which is 5.7% of the GDP, as against 4.8% in 2011. In terms of money, the economic expenses will total 30.3 billion lei, while the capital costs − 5.9 billion lei. The personnel spending for the authorities and institutions financed from the state budget and the budgets of the territorial-administrative units will not exceed 8.7 billion lei, which is 9.5% of the GDP. The ceiling is 10%. A sum of 553.4 million lei was allocated for continuing implementing the salary norms laid down in the law on pay grades in the budgetary sector. 365 million lei of this sum was planned in the state budget, while 188 million lei in the budgets of the local public authorities. The national public budget for 2012 provides for [revenues] of 35.3 billion lei, up 4.3 billion lei or 13.9% compared with this year, and for an [expenditure] of 36.1 billion lei, up 3.5 billion lei or 10.7%. The revenues will represent 38.6% of the GDP, as against 37.8% in 2011, while the expenditure – 39.7%, as opposed to 39.4% this year. The [deficit] is projected to be 730 million lei or 0.8% of the GDP, in contrast to 1.6 billion lei and, respectively, 1.9% in 2011. The state budget for 2012 includes incomes of 21.5 billion lei, an increase of 2.4 billion lei or 12.6% from 2011, and an expenditure of 22.2 billion lei, up 1.8 billion lei or 9%. The GDP in 2012 will be 91.6 billion lei, a 5% increase in real terms. The annual average inflation rate is projected to be 6.9%. Imports and exports are expected to rise by 12% and 11% respectively. The average salary in economy will be 3 650 lei, up 11% in nominal terms and 3% in real terms.