The parliament has adopted at first reading a bill regulating the public finances. The bill regulates the scope of public finances, the structure and basic indicators of the Consolidated Fiscal Programme, the fiscal rules and restrictions, the drawing up, the adoption and the implementation and accounting of the state budget, the municipal budgets and of other budgets included in the Consolidated Fiscal Programme. The bill also regulates the accounts of funds coming from the European Union, as well as all other foreign funds' accounts, the financial relations with the General Budget of the EU, accounts of other international financial programmes and agreements, the bank servicing of the budget organizations and the system of the single account, the centralized system of payment of the social security contributions and taxes, the rules of accounting of the budget organizations. The draft bill projects in the medium term budget target a structural deficit for the sector “State Management” not greater than 0, 5 percent of GDP. The target might be surpassed by no more than 1 % of GDP only if the volume of the consolidated debt of the sector goes considerably below 60 % of GDP. 

The annual budget deficit of the Consolidated Fiscal Programme on a cash basis can not exceed 2% of GDP, stipulates the draft. The nominal amount of the consolidated sovereign debt towards the year end can not exceed 60% of the GDP. The annual amount of municipal debt payments for each year can not go beyond 15% of the average amount of its own revenues and the general equalizition subsidy for the last 3 years, based on the data from the annual account reports for the implementation of the municipal budgets. The mover of the bill, in the face of the Council of Ministers, explains in the motives that the bill aims at giving the system of public finance a larger base, by transforming the mid-term budget frame into a real instrument for mid-term forecast and planning, by asking the central and local authorities to follow strict fiscal rules and by the creation of a long lasting system of the way by which the budget is drawn and accounted for.