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Ambassador Henri Paul: Public finance has to be reconsidered in Romania

French ambassador to Romania Henri Paul believes that public financing has to be reconsidered in Romania because public spending is too high against revenues collected.

'Romania's problem is that all public spending is too high against revenues and it has to decrease spending at the same time with increasing collection. There are several ways of increasing revenues. We can consider the taxes, and I believe that when the Romanian Government decided to raise the Value-Added Tax (VAT) it was in order to generate an immediate boost in revenues. Yet, I also believe there are other taxes that should be modified,' the ambassador told Realitatea TV commercial TV channel at the weekend. He added that economic policy should be involved in all rates and taxes and tax increases.

In his opinion, investment is required for Romania's economic growth, as economic growth can boost revenues. Other measures suggested by Henri Paul are reducing tax evasion and fighting against corruption.'There are more means to use to get to a result that is indispensable to placing Europe back on the path to growth,' said Henri Paul.In relation to President Traian Basescu's statement that the VAT should be cut back to 19 percent, the ambassador said he doubts the Government will take this step, particularly because the VAT was only recently hiked.

'All the information systems were caught by surprise by this increase in the VAT. I believe the President and the Government want Romania to look good at their meetings with the International Monetary Fund(IMF),' said Henri Paul, adding that Romania also has to consider the schedule for its accession to the Eurozone.

'The stand of the French Government is that each country is fully sovereign and free to increase of decrease rates and taxes. There should be a certain political and economic coordination in the world against the crisis and in the European ensemble because Europe is interdependent,' the diplomat said.

Sursa: http://www.actmedia.eu

Tags: revenues romania public henri ambassador

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