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Viorel Stefan: No functional engines able to re-launch economy

Viorel Stefan, the chairman of the Commission for budget, finance and banks in the Chamber of Deputies, said in an interview granted to Agerpres, that Romania would not get out of crisis in 2011 because the engines able to lead to such an evolution are missing.

He showed that public investments, the first engine which could have attracted economic re-launch did not start on 1 January 2011 as the government had promised and dropped by 31% as against January 2010.

In this context, Viorel Stefan points out that the end of the first quarter is drawing near and nothing has happened in the public investment process. 'The government has been talking about 2011 as a year of public investments, which should have been one of the main economic re-launch engines. We are close to the end of the first quarter and the government intention has not been confirmed yet. On the contrary, the results of the January execution were made public and were presented as a big achievement of the Executive because the budget registered a slight excess in January 2011. When analyzing data more attentively, we see the answer is not a reason of praise: January 2011 meant an investment expense 31% lower than in 2010. One of the engines which could have attracted economic growth is not confirmed by practical evolutions', Viorel Stefan explained.

The increase of the degree of European fund absorption is another engine which could have backed the re-launch process. But, according to the commission chairman, the process of attracting EU funds is blocked by excessive bureaucracy and unprecedented politicizing, in the sense that applicants who are not members of coalition parties (PDL, UDMR, UNPR) do not receive financing for their projects.

In conclusion it seems that the program for 2011 has been compromised. As for the third economic re-launch engine – export- it is affected by incoherent domestic measures applied in fiscal policy of turning the state into an element of financial gridlock because of arrears of 6 billion euro, that is 5% if GDP.

Consequently, none of the engines which could have been the basis of economic re-launch in 2011 are functional, the chairman of the Commission for budget, finance and banks in the Chamber of Deputies said.

Sursa: http://www.actmedia.eu

Tags: economic january which launch stefan engines viorel euro

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