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A budget revision is scheduled for July 31, and before that Finance Minister Eugen Teodorovici has to come up with an analysis of the measures he will take so that by the end of the year the government deficit will not exceed 3pct, political sources said on Thursday.
The date for the budget revision was set on Wednesday at a meeting of the National Executive Committee (CExN) of the majority Social Democratic Party (PSD).
"The CExN established that before July 31, Finance Minister Eugen Teodorovici has to come up with an analysis of how the budget is standing and what measures he will take so that the government deficit at the end of the year will not exceed 3pct. The budget revision will happen on July 31," the sources said.
According to them, in order to reduce government expenditure, a bill will be considered under which special public pensions would be taxed progressively. Other measures that are being considered are the elimination of social programmes that are not efficient and the restructuring of some state agencies.
Teodorovici announced at a PSD meeting on Wednesday that the national budget was missing 7 billion lei, which the government must find to cover the deficit.
Also on Wednesday, a decision was made to convene a new meeting of the National Executive Committee next week to look into a government reshuffle that would concern not only ministers, but also state undersecretaries, as the the prime minister is to present an assessment of each ministry.
On the other hand, the party's new leadership - Viorica Dancila, Eugen Teodorovici and Mihai Fifor - would go to each PSD county chapter to analyse the results of the May 26 European elections.
