Budget

FINMIN: There will be no budget revision

24.05.2011 u 13:44

Bionic
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There will be no budget revision, Finance Minister Martina Dalic said on Tuesday at a session of the parliamentary finance committee which supported her report on the budget execution for 2010 with a majority vote.

"There will be no budget revision, particularly not the one aimed at spreading fiscal imbalance. You should not worry about that," the minister told Gordan Maras of the Social Democratic Party (SDP) who called on her and the government to adopt a budget revision as soon as possible given, as he said, a dour percent lower budgetary revenues in the first three months of 2011.

"This means that there are HRK 4.5 billion less in the budget, you have to be careful that the planned deficit doesn't exceed HRK 15 billion and total HRK 20 billion," Maras said at the session.

According to Dalic's report, the 2010 budget's revenues totaled HRK 107.7 billion which is HRK 2.8 billion or 2.5 percent less than in 2009. Tax revenues amounted to HRK 61.8 billion, up 2 percent on the year. Budgetary expenses amounted to HRK 121.9 billion, up HRK 1.7 billion on the year. Most of the expenditure referred to pensions (HRK 34.8 billion) and the health and social welfare sector (HRK 24 billion).

Budgetary deficit in 2010 was HRK 14 billion or 4.2 percent of GDP and when consolidated with extra-budgetary funds and local self-government units, the total consolidated general government deficit amounts to HRK 14.5 billion or 4.3 percent of GDP.

Opposition members of the committee did not support Dalic's report, criticising the government for being fiscally irresponsible and incapable of pulling the country out the crisis.