The draft municipal budget for 2016 was finalized and submitted to the Chisinau Municipal Council (CMC) for examination and approval. It provides for incomes of 2.943,679 billion lei and for a total expenditure of 3.047, 326 billion lei. Thus, the spending is by over 100 million lei larger than the incomes, IPN reports.

Those who drafted the budget suggest that the deficit should be covered with the money planned to be obtained from the sale of fixed and tangible assets and with internal and external sources of financing.

A sum of 91.9 million lei was earmarked in the 2016 municipal budget for paying interest on foreign loans.

The CMC is to have a meeting on October 29.