The state budget will allot 3.5% of GDP to investments this year, against 2.8% in 2000, Finance minister Mihai Tanasescu stated yesterday. This year's GDP is expected to stand at 1,050 trillion lei.
"This year's budget provides for a substantial increase of aids and a proper balance between the funds allotted to particular fields, such as education, healthcare and agriculture. We will also improve the way of collecting budgetary revenues," Tanasescu specified.
Tanasescu said that this year's budget also includes income tax Law changes, which are the increase of pension taxation ceiling, the increase of the employees' personal deductions, the increase of deductible expenses derived from rentals as well as the extension of the deadline for income statement submission.
The first budget drawn by the new PDSR Government will be "tight," according to Premier Adrian Nastase. The previous budgets, harshly criticised by PDSR because they failed to supply proper funds for welfare, healthcare and education, were also labelled as "tight."
Adrian Nastase-led Government intends to grant many incentives for investments, arguing with the suggestions advanced by the IMF representatives.
After the first assessment of the budget draft in the Government session, Premier Adrian Nastase stated that investments would be an absolute priority for the Government and that there were no difficulties to support the budgetary deficit.
The budget gap will be financed by the well-known foreign sources - the international financial institutions, as well as by capital inflows on the private market, the Prime Minister added.
"This year's budget will be tight, but we will attempt to keep the institutions afloat and re-launch an investment boosting policy. From this point of view, investments will be an absolute priority," added Nastase.
Consolidated budget revenues are estimated to stand for 33% of GDP, but the budget draft also pins facilities for the Small and Medium-sized Enterprises (SMEs), the excise system revision, agricultural revenues taxation and the extension of forced execution measures.
Privatisation minister Ovidiu Musetescu told Mediafax that estimated revenues derived from privatisation might stand at 400-450 million dollars this year and that the amount was to support the domestic public debts.
"We intend to earmark the money necessary to resume the investments at Unit II of Cernavoda power plant, we want to draw projects to support the agriculture, to allot the funds needed for infrastructure works, especially for house building," the Prime Minister said. The budget draft points to a 4.1% economic growth this year.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
