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The 2011 law on budget was approved / The Liberals will contest the law on budget at the Constitutional Court 

de A.C.     HotNews.ro
Joi, 23 decembrie 2010, 16:52 English | Top News

The budget was adopted on Wednesday afternoon but Liberal Eugen Nicolaescu announced that the Liberals will contest the law on budget at the Constitutional Court. PM Boc declared that the 2011 budget will increase investments, and focus on investments as a key for economic growth. PM Boc said after the vote that the budget ensures that salaries and pensions will be paid next year, without a doubt. 

Social Democratic representatives declared that they do not believe the declarations of the Prime Minister and the Social Democrats did not vote the budget. At their turn Liberals announced their plans to contest the law at the Constitutional Court, arguing that many of the law's rulings are not constitutional. 

The 2011 law on budget was passed with 207 votes for and 143 against. According to the document, budgetary revenues will increase in 2011 by 15% compared to 2010 up to 80.81 billion lei and spending will increase by 1.2% up to 108.49 billion lei going to a public deficit of 27.6 billion lei, representing 4.4% of GDP. 

The transfer from the state's budget to the social insurances budget will be 13.9 billion lei. Fiscal revenues are estimated to grow by 13% reaching 74.8 billion lei. The state plans to cash in from taxes on revenues, on capital gains about 15.7 billion lei. VAT will bring to the state's budget according to the law, 46.23 billion lei. 

The state will spend on salaries in 2011 9.65 billion lei, spending with personnel increases to 15.54 billion lei and spending with leadership bonuses will drop by 40%. Holiday bonuses, supplementary hour payments and salaries on merit were eliminated.
























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