Moldova faces budget deficit, cuts spending
Parliamentary session opened today with a discussion on adjustments to the 2024 state budget. Finance Minister Victoria Belous presented a draft that proposes reallocating more resources for business development, expanding forested areas, and rehabilitating road infrastructure.
The draft projects a 1 billion lei increase in state budget revenue and a nearly half-billion lei decrease in expenditure. This would reduce the budget deficit by almost 1.7 billion lei, bringing it to 15.1 billion lei.
The parliamentary opposition criticised these changes. They targeted cuts to the "First Home" program, reduced funding for the "Moldova - Roads 3" program, and other projects. Additionally, they expressed concerns about the decline in exports.
The opposition BCS deputies raised concerns about covering the revenue-expenditure gap through loans. The Finance Minister responded that the government is committed to reducing the deficit annually until 2027.
Despite the criticism, 58 deputies voted for the draft in the first reading. Deputies have until November 28th to propose amendments, which will then be sent to the government for approval.
Translation by Iurie Tataru
