This is how the Romanian state tricked the IMF. Elsewhere in the news, French recruitment agencies "hunt" Romanian doctors to cover the staff deficit in the Hexagon. Last but not least, historic moment: Republic of Moldova considers joining NATO.
This is how the Romanian state tricked the IMF, Gandul reads. According to the publication, the Romanian state pushed its 2009 debts into 2010 in order to stay with the budget deficit imposed by the International Monetary Fund. Last year, Romania spent 8.5 billion euros more than it could afford, concluding 2009 with 7.2% of the GDP budget deficit. The IMF agreement allowed for 7.3%. 0.1% means 120 million euros.
In reality, if one takes into consideration the state's debts to the private sector and what the state companies owe the state budget, sums postponed for 2010, the budget deficit gets higher figures. The state has to reimburse company owners 382 million euros in VAT. American Company Bechtel, hired to build the Transilvania motorway, should have received 200 million euros from the Transport Ministry for its works by the end of last year. But the biggest state owner is the state himself: Gandul estimates that the 10 companies monitored by the IMF owe the budget 1.3 billion euros.
State income dropped 5.4% of the GDP, while spending went up 1.4% in 2009. Last year, the Romanian Treasury was drained by the slower economic activity, and therefore less money from border taxes (-31.9% against 2008), -16% from VAT duties and 8.9% less funds from the tax on profit. Income tax was 0.3% up though, duties gave 14.2% more and property duties brought an additional 3.8% against 2008.
But social contributions gave the budget about 260 million euros less than in 2008, namely 22.26 billion euros. Economist Ilie Serbanescu told Gandul that the budget has not been adjusted and corrections will
