FinMin Vladescu rules out change of budget deficit

Publish date: 13-01-2010
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A change of the projected budget deficit of 5.9 percent of the gross domestic product (GDP) in 2010 is out of question, Finance Minister Sebastian Vladescu, who participates in parliamentary debates on the State Budget Bill, on Tuesday told Agerpres.

"A change in the deficit is out of question," Vladescu stressed.

Social Democratic deputy Anghel Stanciu lodged an amendment to the 2010 State Budget Bill suggesting the rise of the budget deficit from 5.9 percent of GDP to 6.5 percent of GDP for the development of education.

"We propose the increase of the budget deficit to 6.5 percent of GDP to back development. Education received 6 percent of the GDP, with one percent assigned for research, respectively. We propose this deficit for development. There is need of reform in education based on the programs financing ability," said Anghel Stanciu.

The deputy remarked that EU countries run deficits of 6.5 percent and the average over the 27 EU member states is 7.3 percent, and that Great Britain's budget deficit is in excess of 13 percent.

The Finance Minister said he would sit down and discuss the budget deficits with the PSD deputy at the Ministry of Finance.

"After the state budget is approved, I am waiting for Mr. Stanciu at the Ministry's headquarters, to discuss budget deficits," Vladescu said.


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