Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Isarescu: We will get out of recession solely through hard budget constraints

Governor of the National Bank of Romania (BNR) Mugur Isarescu said that Romania will get out of the recession solely through hard budget constraints, underlining that he does not agree with the idea that the International Monetary Fund (IMF) saved Romania as a state, but only financed the balance of payments.

'The IMF did not save Romania as a state. It was created to finance the balance of payments, with its benchmarks. The IMF did its duty to Romania, but Romania did not do this. We hope the rise in budgetary revenues will stop here. The IMF was everything but generous to us. Regrettable confusions, which get beyond us as well, were created. We will get out of the crisis through hard budget constraints alone,' said Isarescu.

According to him, although the Romanian companies claim they are being overtaxed, the state does not have any money.

'The companies complain they are being overtaxed, but the state has no money. The answers are not to be found only in the tax evasion issue. I believe the Romanian society does not have too many sources to generate tax revenue. Labour being discouraged is a Romanian reality. Nationwide, when a rating agency is analysing a company, the first reaction is related to the taxation's 30-percent share of GDP,' underscored Isarescu.

The National Bank of Romania together with the Saptamana Financiara magazine and Financiarul daily organised in Bucharest on Wednesday a debate on the topic Romania 2010: Economic and Financial Constraints and the Social Imperatives.

Sursa: http://www.actmedia.eu

Tags: romania constraints budget isarescu through bnr

Articole similare