Minister of Finance: Rectification of the state budget law will take place earlier to allow reallocation of funds to investments
The rectification of the state budget law will take place earlier than June in order to allow the reallocation of funds to investments, Finance Minister Veronica Sirețeanu said. In a broadcast on radio station Vocea Basarabiei, the minister said the state will invest in infrastructure to ensure economic growth and develop adjacent industries. Veronica Sirețeanu claims that this year we have a potential economic growth of 2%.
"At an inflation of 14% this is not enough, the annual average, that is, we have to see how we can contribute to development, or GDP growth has as a mandatory element government spending or investment. We should reallocate part of the revenue we have to the investment dimension, especially if you want to build something, it necessarily requires some procurement procedures and that's why we were thinking of having an earlier rectification to direct part of those savings to the investment dimension, to help the state economy grow. There are adjacent industries that are linked to these investments that can maintain jobs," said the Finance Minister.
Veronica Sirețeanu also said that the state managed to make savings from the 5 billion lei allocated for compensation during the cold period of the year. According to her, the remaining money will not be reallocated to other expenses, but will be kept for the next cold season.
According to the state budget law for 2023, the country's revenues would be about 65 billion lei, and expenses - about 83 billion. This would mean a budget deficit of more than 18 billion lei.
