After adding all the potential revenues and subtracting all theexpenses left after the operated cuts, the Finance Ministry stillneeded almost one billion RON to "close" the budget on the newannual deficit target of 6.8% in GDP.
The solution the department in charge with budget construction hasfound 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 theobligation to transfer various sums to the state, but the adjustedbudget counts on 874m RON from this very source.
Moreover, the authors of the budgetary adjustment draft that shouldbe discussed on Wednesday during the Government session thought toset up caps for the sums that would be donated by the threecompanies identified as having the biggest cash assets:Electrica-400m RON, Romgaz-400m RON and Loteria Română-74mRON.
The solution comes after the Government in June had decided thatstate-owned companies and public corporations should transfer theequivalent of 90% of annual profit to the state budget, instead of50%.
The state is losing patience to wait to collect the 90% of thepotential 2010 profits of the state-owned companies though, and it"allows" them to start donating part of the sums available in theirown budgets.
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