The Ministry of Finance wants to organize a specialized structure to monitor budget execution indicators, as well as other data and information, according to the institution’s project.

Ministry of Finance – MFPhoto: Hotnews

The GEO project of government expenditure control – click to open

Monitoring of budget execution indicators and other data and information managed by the Ministry of Finance in credit institutions will be carried out from July 1, 2024.

A newly created structure, when it detects an excess of more than 20% compared to the average cost of purchasing products/services/equipment and/or performing works or the average cost of current and capital costs associated with similar public institutions, depending on the circumstances, shall notify the structure economic and financial inspection of the Ministry of Finance.

The newly created structure will issue performance monitoring reports every year, which it will present to the Romanian government for analysis and approval.

For the first time, it will be a pilot project for 3 years for the fields of education, health care, assistance and social protection, as well as for authorities and institutions of local subordination.

Penalties for those who do not comply

The act of the legal representative of the audit subject refusing to provide the employees of the structures of the economic and financial inspection of the Ministry of Finance and territorial structures of the economic and financial inspection subordinate to the National Agency of the Fiscal Service with documents requested during the control is a violation and is punishable by a fine of 500 to 2,000 lei.

Other news:

Until December 31, 2025, the government approves the monthly limits of loans for commitments and budget loans in accordance with the dynamics of the budget deficit and the dynamics of the level of indebtedness in a monthly report by the end of the current month for the next month. , for the main commissioners, loans are financed entirely from the state budget, the state social insurance budget and the budgets of special funds, within which the main lenders enter into legal obligations, respectively, open and allocate budget loans for their budget and for subordinate state institutions.

The project also provides for the elimination of injustice, discrimination and/or disparity in wages in the public finance system. These are the Ministry of Finance, the National Agency for Fiscal Administration and its subordinate structures, and the Customs Administration of Romania.