GEO on 2020 budget rectification published in the Official Journal

The Emergency Ordinance on the rectification of the state budget for 2020, as well as the Emergency Ordinance on the rectification of the state social insurance budget for 2020, were published in the Official Gazette.

According to the document, the state budget for 2020 increases in revenues with the amount of 589.9 million lei, and in expenditures with 31.144 billion lei commitment credits and with 25.296 billion lei budgetary credits. The deficit increases by 24.7 billion lei.

Also, the document mentions the pension point will increase to 1,442 lei as of September 1 2020.

At the same time, the emergency ordinance on the rectification of the state social insurance budget for 2020 provides for the decrease of the state social insurance budget related to the public pension system for 2020 down to 6.8 billion lei in revenues, by decreasing revenues by 427 million lei, and the decrease in the subsidy granted from the state budget by 6.39 billion lei. In what concerns the expenditures, they will be reduced both in terms of commitment credits and budgetary credits by the amount of 6.82 billion lei.