Parliament Voted in the First Reading for Draft Law on the 2022 State Budget

Home / Society / Parliament Voted in the First Reading for Draft Law on the 2022 State Budget
Finance Minister Dumitru Budianschi previously stated that the document is based on the government’s Action Program and takes into account the impact of the COVID-19 pandemic and the energy crisis, rising import prices, as well as the need to protect the population given these risks, reports. According to the draft, revenues to the state budget next year will amount to 50.1 billion lei, an increase of 9.2% compared to the current year. Total expenses are estimated at 65.2 billion lei, which is 13.1% more compared to 2021. The state budget deficit is estimated at 15.1 billion lei. The increase in income is mainly due to tax revenues as a result of improved macroeconomic indicators and fiscal policy measures. As for expenditures, provisions are envisaged for more assistance during the cold season and increase in the number of aid recipients. Partial compensation for the costs of natural gas and thermal energy for the population will also be continued, and the coverage of the National Fund for Regional Development projects will be expanded. The main sources of financing the budget deficit will be external sources (net receipts from external loans to support the budget and implement projects financed from external sources) and internal sources (issuance of government securities and funds from the sale and privatization of state assets). The remainder of the public debt as of December 31, 2022 is estimated at 103.3 billion lei, which will amount to 40.4% of GDP. At the same time, in 2022, growth of gross domestic product is projected by 4.5 %, average annual inflation by 6.9%, export growth by 10.6% and import by 5.1 % and an increase in average wages in the economy by 10% compared to with the current year. Note that the Law on the State Budget is adopted in three readings. Point