Moldovan MPs approve draft on amendment of state budget law in first reading

Chisinau, 21 April /MOLDPRES/ - The parliament today approved, in the first reading, a draft law on the amendment of the state budget law for 2022. The amendment was imposed by the impact of the energy crisis on the national economy, the geopolitical situation and the large number of refugees from Ukraine.    

Under the document, the MPs propose an increase in the revenues from 50.066 billion lei up 52.701 billion lei (+5.3 per cent) and of the expenses - from 65.202 billion lei up to 72.087 billion lei (+10.6 per cent). Respectively, the budget deficit will grow from 15.136 billion lei up to 19.386 billion lei (+28.1 per cent).  

The main changes in terms of revenues occur at taxes and duties, which will increase by 2.7 per cent; the inflows of grants will grow about twice; the collections from other revenues increase by about 10.7 per cent; the sums of transfers from the state budget and local budgets increase by about 28.2 per cent. 

The most significant increases of expenses are registered in the groups: ‘’social protection’’ (+2.4512 billion lei); ‘’state services with special purpose’’ (+2.007 billion lei); ‘’services in the economy sector’’ (+1.185 billion lei), ‘’education’’ (+738.2 million lei).    

According to the updated scenario for 2022, the forecast of the growth of the Gross Domestic Product (GDP) (in real terms), against 2021 was revised downwards from 4.5 per cent to 0.3 per cent. The inflation level is estimated at 15.7 per cent, the exports are scheduled to increase by 4.5 per cent, the imports – by 6.9 per cent and the average salary on the economy is to grow by 15.1 per cent.