Loading ...“Any decision on taxation rising would be pro-cyclic and an error”, said Videanu. Government spokesperson Ioana Muntean stated on Wednesday that the Government is technically drawing up the 2010 draft budget. The draft budget for 2010 is based on an economic growth of 0.5 percent next year and an average inflation rate of 3.7 percent.
The exchange rate in view for the drafting of 2010 budget is of 4.20 lei/euro compared to an exchange rate of 4.25 lei/euro, on which 2009 budget was based.
The approval of the Budget Law on 2010, with a deficit target of 5.9 percent of the GDP, prior to the International Monetary Fund (IMF) Board meeting, programmed on Dec. 10, is the condition posed by IMF for the disbursement of the next loan tranche, of 1.5 billion euros.
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