The budget of Chisinau municipality for 2014 will sustain losses of over 100 million lei, while the amounts earmarked for investments will diminish by about 50 million lei. According to the authorities, this will happen after the Law on Local Public Finances takes effect on January 1, 2014, IPN reports.

In an ordinary meeting of representatives of the municipal services on November 11, Finance Division head Veronica Herta said the budget revenues next year will be about 2.6 billion lei, while the expenditure – 2.7 billion lei. The investments planned at the Constructions Division, the Architecture Division and the Public Transport and Communications Division will be reduced.

A sum of 64 million lei will be distributed to the suburbs. Mayor General of Chisinau Dorin Chirtoaca said the suburbs that will have their own financial resources will be supported by the municipality in other ways than financially, while the investments will grow annually. He underlined that it’s not fair to cut the municipal budget by 50 million lei a year as the work of certain subdivisions will be in danger and the salaries may be decreased.