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Economy Minister to increase budgets cut a month ago

de Radu Rizea
Miercuri, 9 aprilie 2008, 13:56 English | Top News

The Transport and the Defense ministries may receive supplementary funds at the second budget rectification this year, which will most probably take place in July, said the Economy Minister, Varujan Vosganian. At the first budget rectification, the Defense saw the largest budget cut - 800 million RON (1 euro = 3,75 RON), while the Transport Ministry lost 100 million RON.

According to Vosganian, the state budget will suffer further rectifications in July and October.

During the first rectification, the budget deficit was reduced from 2.75 to 2.3% of the gross national product (GNP) of 2008. After reshuffling the budget four times in 2006 and three times in 2007, international financial institutions drew the attention that such practices indicate a poor budget planning.

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