Revenues to State Budget to rise by 11.2%
In 2011 revenues to the State Budget is planned to amount to 19.08 billion lei, which is by 1.9 billion lei, or 11.2% more than in 2010. State Budget spending will stand at 20.35 billion lei, up by 1.56 billion lei, or 8.3% on last year, according to the 2011 Budget Bill which was published on the Finance Ministry's website, Info-Prim Neo reports.
The bulk of the State Budget revenues – 14.83 billion lei or 77.7% –will be fiscal revenues, which are estimated to rise by 16.4% from 2010. Indirect taxes will produce 14.32 billion lei.
Non-fiscal income will constitute 753 billion lei, less than last year. This is due to the cancellation of several taxes, like the tax for agriculture revitalization, and other non-fiscal incomes.
Foreign grants will account for 11%, or 2.1 billion lei, in the State Budget revenue.
This year entrepreneurial activity is expected to yield by 13.8%, or 29.7 million more in income taxes.
As concerns the State Budget spending, the social component will consume 42.2% of the total.
The economic sector's budget allocation will increase by 770.98 million lei from last year. This is due to foreign grants and loans which will be mainly spent on road rehabilitation and maintenance and support to producers, in particular in rural areas.
The State Budget deficit has been estimated at 1.26 billion lei lei.
The Moldovan Government was expected to consider and adopt the 2011 Budget Bill at its meeting on Saturday, March 5, but it was postponed for unclear reasons. After Cabinet passage, the Bill is due to be considered in Parliament.