Romania’s Government will cut almost EUR 900 million from its spending on co-financing for projects financed through European funds, a quarter of which from highways, according to the new budget revision project, quoted by Mediafax.

The Government will reallocate some of this money, EUR 275 million, to the Labor Ministry. Another EUR 238 million will be allotted to local authorities, through the Ministry for Regional Development and Public Administration. The Ministry of Internal Affairs, the Ministry of Defense and the Justice Ministry will also get extra funds.

Overall, the total state spending will go down by some EUR 317 million compared to the previous budget version for this year, as revenues will also decline by the same amount. The budget deficit expected for this year remains unchanged and should stand at less than 2.2% of GDP.

editor@romania-insider.com