Pogea: Buget revenues estimated to fall by 12.5 billion lei in 2009

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The budget expenses are estimated to fall by 17.7 billion lei, or 4.16 billion euros, in 2009, because of the bad economic conditions, said, on Tuesday, at a press conference, Public Finance minister Gheorghe Pogea.

He mentioned that to the money coming from VAT, a fall of 4.3 billion lei is estimated, over one billion euros, to the contributions to social security, a fall of 5.5 billion lei, or some 1.3 billion euros, and to the non-fiscal revenues, a fall of 4.2 billion lei, or around one billion euros.

In August a budget revision with minus will be operated, starting from a drop in the economy of 8-8.5 percent of GDP. The GDP is estimated now at 497.3 billion lei, compared with the initial 531.25 billion lei.

For reaching the new inflation target with the IMF for 2009, of 7.3 percent of GDP, MFP will have to take fiscal adjustment measures, totalling 5.5 billion lei.

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