The leading Romanian cities have started to publish their ownbudget drafts for 2011, which provide either for revenue declinesor for anaemic increases against 2010, a year that was not at allgood as far as revenues of the local administration are concerned:the revenues of the leading cities fell by an average 10% against2009, which led to repeated expense adjustments.
In 2011, the state budget will not be generous with the localadministration. The budget law for 2011 cut overall VAT fundsallocated to local budgets to 13.7 billion RON (3.2 billion euros)from 17 billion RON (4 billion euros) in 2010.
Under the circumstances, city hall officials say they expectanother year of austerity, but that a big part of the budget willgo to investments in 2011.
The Romanian city boasting the highest revenues, Bucharest, has yetto finalise its draft budget for 2011 or publish the 2010 budgetexecution.
The draft budget approved by the councillors of the BucharestMunicipality last year provided for revenues of 4.4 billion RON (1billion euros) and expenses of 5.6 billion RON (1.3 billion euros).The budget of the Municipality and of Bucharest's sectors amountsto over 2.6 billion euros.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
