Romanian 2011 budget: the government to cut by half local level finances

The government will drastically cut local budgets made from VAT taxes, a 2011 budget draft reads, quoted by the Romanian news agency Mediafax. The budget draft sees a cut by half of finances for infrastructure and sports fields. In the same time, more money will be allocated for education and social care salaries. Total funds allocated for local budgets in 2011, from VAT will be of 13.7bn LEI compared to the total budget of 17bn LEI for 2010. The budget for infrastructure and sports fields in the rural area will be cut to half from 813.5 million lei to 440.3 million lei.

Source: English.hotnews.ro

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