Chances are for a budget endorsed by mid-December, Finance Ministry official says

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There are chances for Romania to have a state budget for 2010 endorsed by December 15, this being a condition put by the International Monetary Fund (IMF) to release the next loan tranche to Romania, the secretary of state in the Public Finance Ministry (MFP) Gheorghe Gherghina says.

Gherghina declared that the MFP experts have carried out a budget construction for 2010 based on the current legislation, but that it is to be adjusted depending on the Government priorities, in the public investments area in particular.
“Priorities for 2010 should be made clear in order to make the necessary adjustments. Even if priorities change significantly, the MFP specialists could make the needed alterations within 3 to 4 days”, the secretary of state added.

For 2009, the level of the budget deficit agreed with the IMF stays at 7.3 percent of the Gross Domestic Product (GDP), and the release of the next loan tranche from the IMF and the European Commission is conditioned by a cut of the budget deficit in 2010 to 5.9 percent of the GDP.
Incumbent premier Emil Boc said on Wednesday December 2nd that after the law on the authorizing of the Government to send the budget to the Parliament would be enforced, the Government would discuss the 2010 draft budget in its meeting.

President Traian Basescu on Wednesday signed a decree on the promulgation of the Law for the completion of art. 26 of the Law no. 90/2001 regarding the Romanian Government and ministries’ organizing and functioning.
The Chamber of Deputies on November 10 and, subsequently, the Senate on November 11 decided to change art. 26 of the Law on the Government and ministries’ organizing and functioning which allows the sacked Boc Cabinet to present the Parliament the 2010 draft budget.

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