Romanian Fin Min says 2011 Budget To Provide More For Investments, Cut Social Spending

„The budget philosophy for 2011 is this: as much money as possible for investments and co-financing. Romania can’t draft a budget just for the payment of salaries and social aid,” the minister said on the sidelines of a seminar organized by the European Commission’s Romanian office and the Romanian Center for European Policies.

The minister said social spending is at 69 billion lei (EUR1=RON4.2842) from a total RON200 billion in budget expenses.

„The Romanian Government has made a clear decision to rationalize social spending. The labor minister is in charge of reducing social spending, which is currently a big part of the general consolidated budget,” said Ialomitianu.