Law on the state budget for 2015 published in the Official Gazette

The law on the state budget for 2015 was published in the Official Gazette of Romania on Tuesday, the same as the decree on the promulgation of this law, signed by President Klaus Iohannis.

The head of the state signed both the decree on the promulgation of the law on the state budget for 2015 and the decree on the promulgation of the law on the social security budget for 2015 on Monday, after the Constitutional Court of Romania [CCR] rejected a constitutionality objection that had been filed in relation to this law.

Thus, CCR ruled on Monday as constitutional the law on the 2015 budget, after rejecting the constitutionality objection that had been filed by the National Liberal Party [PNL].

The MPs approved the state budget law with 339 votes cast "in favour" of it, 141 "against" and the social security budget with 329 votes "in favour" and 148 "against".

The 2015 budget took into account a 2.5 growth rate, an average inflation rate of 2.2 per cent and an unemployment rate of 5.1 per cent. The Gross Domestic Product [GDP] was estimated at 709.681 million lei.

The revenues of the general consolidated budget will reach 31.9 per cent of the GDP in 2015, according to estimates, the spending will reach around 33.7 per cent of the GDP, while the estimates for the budget deficit are 1.83 per cent of the GDP, on the cash-flow basis, and 1.2 per cent of the GDP, on the European ESA methodological basis.

Expenditures on investments will reach up to 44.76 billion lei, by 8.7 billion lei more than in 2014, representing approx. 6.3 per cent of the GDP and a total weight in the budget expenditures of 18.7 per cent, by 3.2 per cent more compared to 2014. AGERPRES