State spending for investments: 3.2bn euros

The investment spending of the public administration reached 11.4 billion RON (3.2 billion euros) at the end of the January-July period, more than double the amounts invested in the same period of last year. A significant increase was registered by the personal spending that went up 34% to almost 20 billion RON (5.5 billion euros). The amounts allocated for investments were somewhat balanced this year unlike the previous years, when ministries would spend most of the funds towards the end of the year, with the incoming elections prompting authorities and the Government to make investments. However, it remains to be seen whether the local authorities will not be spending significant amounts towards the end of the year again in 2008, something that is not desirable because it would put pressure on the budget deficit.