Finance Ministry speeds up budget

The Finance Ministry is to present a report on the main indicators used to build next year’s budget during today’s Government session. These indicators include a 5% economic growth, ministry sources said. The Gross Domestic Product was estimated to 2,144,000bn ROL (nominal value) and the budgetary revenues were anticipated to amount to 30.1% of GDP, i.e. 645,344bn ROL. As for the budgetary deficit, the level targeted is 3% of GDP. The Government had previously tried to up the deficit from this year’s 2.65-2.7% of GDP to 3.7% of GDP next year to finance infrastructure projects. The International Monetary Fund, however, did not agree to it in the end. The inflationary rate considered for 2004 is 9%, calculated December 2004 to December 2003. The state budget and social security budget law drafts could reach the Parliament for debate this October. Having next year’s budget endorsed by November is one of the Government’s commitments to the European Commission. PM Adrian Nastase during his visit in Brussels last week presented the European officials a plan of steps largely privatisation-related set to be taken by November 5. ZF