International Monetary Fund (IMF) is not pleased with the too high increase in the salaries of the budgetary sector registered this year, governmental sources told Ziarul Financiar.
This will be the only more difficult item on the agenda of the talks between the IMF negotiators and the Romanian authorities to convene again in Bucharest by mid August.
Another item on the agenda will be the budgetary correction, to stir discontent among ministries, as the extra amount of money to be allocated is extremely low.
"The Finance Ministry will have only 300 billion lei available for the possible extra funds granted to ministries through the budgetary correction to be operated in August," the quoted sources said.
The same sources say the rectification will target keeping within a deficit of 3.5% of GDP, following repeated demands from the IMF. The bulk of the amounts collected from taxes over the first semester (which increased by 3.3%) will be actually used to cover the deficit.
"The budget structure will be changed, as some amounts will be transferred from one ministry to another," the quoted sources said.
The big problem in allotting the funds will be the fact that several credit orderers have already made expenses for the second half of the year, without actually having the money, mainly by drawing foreign loans pledged by the State. Such an example is Health Ministry, which has already spent 3,500bn.
The correction is to be endorsed during the Government session on August 15.
The Cabinet and the IMF had agreed upon the rectification ever since the Fund mission's last visit, said sources.
The next round of talks with the IMF will focus on the 2002 budget draft, as well.
The 2002 budget is built around 3% deficit, given 5.1% economic growth and 22% in inflationary estimate. The average exchange rate considered when working out the budget draft was 36,000 lei/$. This year's budget was built around a 28,500 lei/$ exchange rate.
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