After adding all the potential revenues and subtracting all the expenses left after the operated cuts, the Finance Ministry still needed almost one billion RON to "close" the budget on the new annual deficit target of 6.8% in GDP.
The solution the department in charge with budget construction has found is a first, both as a legal formula, and budgetary technique: donations that three large state-controlled companies "can" make.
That is to say that the respective companies do not have the obligation to transfer various sums to the state, but the adjusted budget counts on 874m RON from this very source.
Moreover, the authors of the budgetary adjustment draft that should be discussed on Wednesday during the Government session thought to set up caps for the sums that would be donated by the three companies identified as having the biggest cash assets: Electrica-400m RON, Romgaz-400m RON and Loteria Română-74m RON.
The solution comes after the Government in June had decided that state-owned companies and public corporations should transfer the equivalent of 90% of annual profit to the state budget, instead of 50%.
The state is losing patience to wait to collect the 90% of the potential 2010 profits of the state-owned companies though, and it "allows" them to start donating part of the sums available in their own budgets.
After adding all the potential revenues and subtracting all the expenses left after the operated cuts, the Finance Ministry still needed almost one billion RON to "close" the budget on the new annual deficit target of 6.8% in GDP.
The solution the department in charge with budget construction has found is a first, both as a legal formula, and budgetary technique: donations that three large state-controlled companies "can" make.
That is to say that the respective companies do not have the obligat
