Budget rectification will target a 0.8-pc cut in spending, says PM Boc

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The second Budget rectification of the year, to be performed in August, will target a 0.8 percent cut in public spending and an increase in receipts, Prime Minister Emil Boc told the public television channel on Monday in a statement.

He mentioned that the rectification will secure the operational spending of the Government. ‘We will secure wages and pensions.

And because there has been talk of money being insufficient for justice, defence and interior spending I want to assure you that there are financial resources and wages will be paid to the education and the police staff. We will have money also to secure the functioning of justice,’ said Boc.

Asked about the areas that will witness cuts in public funds, Boc did not offer actual data, saying just that the exact strategy will be introduced by the Finance Ministry, which is working in cooperation with the economic board of the ruling coalition.

Early this July, Finance Minister Gheorghe Pogea said that the Government will perform a Budget rectification, most likely in the third quarter of the year and take a final decision after assessing the economic state together with experts of the European Commission and the International Monetary Fund.

This will be the second revision of the Budget, after the first one in April.
The Government back then readjusted the Budget to provide for Government deficit of 4.6 percent of the Gross Domestic Product (GDP), up from an initial 2 percent, a GDP of RON 531.25 billion and a 4-percent economic decline.

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