Ion Chicu: State Budget Revenues in 2019 Exceeded Revenues of 2018

State budget revenues in 2019 exceeded  revenues of 2018 by 3.7 billion lei. Revenues accumulated by the Tax Service increased by 760 million lei, by the Customs Service - by 1.4 billion lei, and other revenues - by 1.3 billion lei, ipn.md reports. Moldova's budget system has already been well drawn up, but can be improved, a Facebook post by  Prime Minister Ion Chicu says. According to the Prime Minister, the budget can overcome many risks, such as parliamentary and local elections in one year, political crises, etc. Despite a more than 17 percent reduction in the total share of social insurance contributions for the private sector, during the first three quarters of 2019 the revenues of the State Social Insurance Budget increased by 764 million lei compared to 2018, and almost by a billion lei compared to the originally planned indicator. The revenues of the Mandatory Health Insurance Fund increased by 673 million lei. Ion Chicu added that although the maximum tax rate on personal incomes decreased from 18% to 12%, and individual personal exemption increased from 11,940 lei to 24,000 lei per year, revenues to local budgets exceeded the planned figure by 205 million lei, and compared with 2018 increased by 51 million lei. As a result, the revenues of the National Public Budget in 2019 increased by more than 5.25 billion lei compared to 2018. Growth due to taxes and fees is about 4 billion lei. The contribution of external financial assistance amounted to about 1.3 billion lei. Regarding the budget deficit, the Prime Minister said that this figure is 2.94 billion lei, or about 1.4% of GDP. Ion Chicu added that the balance in the National Public Budget accounts at the end of the year was sufficient to finance all payments starting from the first hours of 2020, including salaries, pensions, appropriations and lump sum support in the amount of 700 lei for about 600 thousand citizens.