Prima pagină » English » Romania To Wait Until 2014 To Finance Education System By 6% Of GDP

Romania To Wait Until 2014 To Finance Education System By 6% Of GDP

Romania's Government will extend the deadline by which it must provide at least 6% of the GDP to the education system by two years, until 2014, arguing that it would entail an additional budgetary burden of more than 46 billion lei (over EUR10 billion) in 2012 and 2013.
Romania To Wait Until 2014 To Finance Education System By 6% Of GDP
Mediafaxfoto - MediafaxRadu Bostan
11 aug. 2011, 16:06, English

This delay is provided by the Government’s fiscal-budgetary strategy for 2012-2014, obtained by MEDIAFAX.

Romania’s new education law says that the state budget and local budgets must allot at least 6% of the GDP to the education system each year. In addition, the state budget must allot at least 1% of the GDP every year for scientific research. The law says these rules are to enter force on January 1, 2012.

According to the Government’s strategy, this date has been pushed back two years, since the measures would cost the state RON22.4 billion in 2012 and RON23.7 billion in 2013.

The strategy was approved by the Government on Wednesday.

(EUR1=RON4.2855)