The government has developed the Project on the amendment of the State Budget Law for the year 2022. The document foresees higher expenses by 3.1 billion lei, the total amount reaching 75.4 billion lei. Revenues are estimated at 58 billion lei, up 5.2 billion lei. The budget deficit is forecast at 17.2 billion lei, 2 billion lei less, reports BANI.MD.
Taxes and fees are the main source of income for the country’s budget. These increase by 3.5 billion lei, or by about 7.4%, and will constitute 51.4 billion lei. Income from grants will increase by 1.3 billion lei, or by about 53.0%, and will amount to 3.7 billion lei. Receipts from other incomes increase by 441.5 million lei, or by about 19.3%, and will amount to 2.7 billion lei. The amount of transfers between the state budget and local budgets for projects financed from external sources decreases by 5.4 million lei and will amount to 16.4 billion lei.
In terms of expenses, the most significant increases are proposed to be made to Social Protection – by 1.7 billion lei and will reach 19 billion lei. It is about granting a unique financial support to beneficiaries of all types of state pensions/social allowances, whose monthly amount does not exceed 5000 lei, increasing the allowances as aid for the cold period of the year.
For general purpose state services, an additional 996.7 million lei will be allocated, especially for the management of the energy crisis and the refugee crisis in Ukraine. An additional 973.7 million lei is allocated to support small and medium-sized enterprises, as well as the “Modernization of Agricultural Techniques and Post-harvest Equipment” project, as well as the Road Fund, the total amount will reach 11 billion lei.
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The Ministry of Finance proposes to cut spending on health care – 897.7 million lei, which are mainly attributed to spending on COVID-19. Also, expenses from environmental protection will be reduced by 101 million lei.
Following the increasingly expensive internal financial resources, the Ministry of Finance states that in order to cover the budget deficit, it focuses on the credit resources provided externally by the development partners.