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FinMin Teodorovici: Ministry of Finance to play a key role in a pro-active approach in budget making

Inquam Photos / George Calin
eugen teodorovici

Ministry of Public Finance will have a pro-active approach in the execution of the budget for 2019, Minister Eugen Teodorovici told a plenary sitting of Parliament on Wednesday.

"The Ministry of Public Finance will play a key role and it will have a pro-active approach in the execution of the budget. We will monitor the entire process constantly and of an applied manner, in order to ensure an efficient spending of the public money and also to make the planned investments. Each unachieved investment objective is just another failed opportunity for the community and smaller revenues," said Teodorovici, at the general debate on the state budget and social security law for 2019.

He specified that revenues estimated for this year's budget are worth 342.7 billion lei, by 53.1 higher compared with 2016.

"The scheduled increase in the revenues for 2019 up to 33.5 per cent from 31.1 per cent of the GDP in 2018 is mainly due to the evolution of the following revenues: revenues from social contributions will increase by 1.2 per cent as GDP share against last year, triggered by an increase in the macroeconomic indicators on the labour market, more precisely based on the fact that the salary fund will increase by 18.6 per cent in 2019 per total economy, compared with 2018. VAT revenues will increase by 0.5 per cent as GDP share compared with the previous year. The measures meant to fight tax evasion and improve collection already implemented or to be implemented by ANAF in 2019 will bring additional revenues of 7.5 billion lei," said Teodorovici.

He added that reaching collection targets in ANAF's case is "a must."

"Alongside my firm support in this field, there won't be tolerated any more mistakes and any deviations from the assumed targets," said Teodorovici.

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