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Romania ‘10 Draft Budget To Be Cleared By Next Govt – Fin Min

Romania’s Finance Ministry is still working on the 2010 draft budget, but the future government will be the one to analyze and sent it to parliament for approval, acting minister Gheorghe Pogea said Wednesday.
Romania ‘10 Draft Budget To Be Cleared By Next Govt - Fin Min
14 oct. 2009, 16:16, English

„We are working on the draft and we gather the data together, but approving and sending the act to the parliament is the prerogative of the future government,” Pogea told MEDIAFAX.

The Romanian government collapsed Tuesday following a no-confidence vote in parliament and President Traian Basescu is expected to announce a new prime minister soon. Once announced, the prime minister will have ten days to form a new Cabinet.

According to Finance Ministry state secretary Gheoghe Gherghina, the 2010 draft budget cannot be sent to the parliament by the October 15 deadline any longer.

Romania’s consolidated budget envisages overall revenue of 166.7 billion lei (EUR1=RON4.2940) in 2010, while total expenditure is seen at RON197.9 billion, Gherghina said last week.

In 2010, total revenue will amount to 31.75% of the gross domestic product, while expenditure will reach 37.68% of the GDP, reflecting a budget deficit projected at 5.9%.

Romania’s GDP is estimated at RON525.1 billion in 2010, up 0.5% in real terms compared with RON497.3 billion predicted for this year.