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The pensions budget : Deficit of 3.7 billion lei after the first eight months

The budget of state social insurances out of which pensions are paid, recorded after the first eight months of this year a deficit of 3.725 billion lei ( almost 880 million euro) the budgetary balance published by the ministry of public finances shows.
At the second budgetary amendment of this year, the goverment transferred from the state budget 5.54 billion lei to cover the pensions budget deficit for this year, according to NewsIn.
The state budget, the main item of the general consolidated budget, recorded during the first eight months a deficit of 21.89 billion lei, after the total expenditure was 63.7% higher than the expenditure for the state budget.
At the same time, the income of insurance budget for unemployment was under the level of expenditure by 652.5 million lei.The national fund for social health insurance recorded a deficit of almost 570 million lei.
The expenditure of the National Company for Motorways and National Roads (CNADNR) was by 399.2 million lei higher than the income of the company.
The finances estimated that damage should be paid by the National Authority for Owners’ Restitution (ANRP) worth 198.4 million lei. Over the first eight months, MFP offered to the ministries foreign credits worth 94.5 million lei.
In exchange, the local budgets recorded between January 1st and 31 August 2009 a supplement of 984.4 million lei, according to MFP estimate.
The most important supplement was recorded for the budget of institutions financed totally or partially from their own income worth 1.435 billion lei. The budget of the treasury with the sum of 276.2 million lei was supplementary.
At the same time, the minister estimated a excess as regards the Fondul Proprietatea worth 170.3 million lei.
MFP announced that Romania had a deficit of the general consolidated budget of 22.305 billion lei ( 5.27 billion euro) for the first eight months, 4.5% respectively of the GDP against 3.5% of the GDP at the end of July.
The final deficit is slightly higher than the one announced on 15th September by the minister of finances, Gheorghe Pogea who announced after the preliminary data a deficit of 4.4% of GDP to the end of August.
The minister of finances took into consideration a value of the GDP of 497.3 billion lei for 2009. At present, the government takes into consideration an economic contraction of 8.5% for this year. Last year, the value of GDP was 504 billion lei ( 136.8 billion euro).



Tuesday, September 29, 2009