The Government passed the first budget revision this year, Prime Minister Emil Boc reports, adding that the Budget will be adjusted for a 1.9 percent economic decline and a deficit of 6.8 percent of the Gross Domestic Product (GDP), while capital spending will be cut by 0.2 percent of the GDP.

The GDP on which the budget revision is built is projected at RON 511.581 billion (1 euro= RON 4.23).

The state will finance the deficits of the pension system by 2020, the new law making it possible to adjust the structural deficits between 2020 and 2025, said Minister of Finance Sebastian Vladescu.

He added that the ministries will prioritise their investment projects for 2011-2012, because Romania would have to spend its budget for the next ten years only to finalise the 40,000 investment projects already started.