FinMin: Budget covers Romania's international commitmentsPublish date: 08-01-2010
Based on the parameters proposed by the Government, the 2010 state budget covers Romania's international commitments, Public Finance Minister Sebastian Vladescu said on Thursday, during the debates held by Parliament's commissions on budget and finance.
He stressed that the budget covers the payment of interests, even though the public debt expenditures increased, as well as Romania's share of contribution to the European Union's budget and the European funds co-financing that Romania hopes to draw in this year.
According to the minister, the budget revenues from taxes and fees account for 30 percent of the GDP, to which add 1.3 percent non-repayable funds and a budget deficit of 5.9 percent of the GDP, with the amounts to be distributed representing 37.2 percent of the GDP.
'The taxes and fees revenues account for only 30 percent of the GDP, well below the European average of 38 - 38.5 percent of the GDP (...) If we also collected 35 percent of the GDP, it would be much easier to distribute one percent more of the GDP for healthcare, two percent of the GDP for infrastructure and another one percent of the GDP for other ministries', Vladescu said.
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