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Solutions for Romania to overcome new wave of economic crisis in 2012

The reduction of the number of employees in the budget sector, freezing pensions and salaries, private management for state owned companies, the renegotiation of the accord with IMF are the solutions suggested by politicians to avoid the wave of the new economic crisis in 2012.

Economic growth target between 2% and 3.5%

The chairman of the budget finance commission in the Senate, democrat-liberal Ovidiu Marian, says the economic growth target of 3.5% for 2012 is sustainable. 'If the government continues the austerity policy and the state reform we will be able to reach the target for economic growth of 3.5%', the PDL senator declared. Besides the political statements, Ovidiu Marian also has a concrete suggestion: taxing all pensions and reducing VAT. Petru Lakatos, from UDMR is not as optimistic as his governing partner. Lakatos, a member in the budget-finance commission in the Chamber of Deputies, does not believe in the 3.5% economic growth target. 'I have often said the budget is not realistic, the income part is oversized. If we have to maintain a 3% deficit then we have a problem,' he declared.

The opposition gives no chance to the economic growth foreseen in the accord with IMF and the World Bank. 'As in the budget target of 1.8% economic growth for 2011, which we considered too optimistic and which the government says it will not reach, hoping for a maximum of 1.5% and the economic growth target for 2012 which is between 3.5% and 4% in the government's opinion was too optimistic at first, fluctuating between 2.5% and maximum 3%, PNL senator Dan Radu Rusanu , a member in the budget finance commission says. Social-democrat Viorel Stefan is the most pessimistic in estimating economic growth for 2012. 'For 2012 economic growth will be under 2.5% as not engine has been identified for economic growth,' he said.

'We have too many state employees'

The first people affected by cutting expenses are state employees. Even the politicians acknowledge it. 'We continue to have too many employees in the state system,' said senator Ovidiu Marian (PDL).

'The government will have to make new personnel restructuring in the budget system,' liberal Dan Radu Rusanu said. He added that state salaries will freeze. 'Salaries in the budget system will not return to the 2010 value,' Viorel Stefan mentioned.

Pensions frozen

'We should not increase pensions if we cannot pay them, 'says the PDL senator . Dan Radu Ruseanu also counts on pension freezing in 2012. 'We cannot talk about pension indexation,' Stefan added.

3% Budget deficit? ' IMF accord must be renegotiated'

In the conditions in which economic growth will not be the one foreseen, it will be difficult for the government to observe the budget deficit target of 3%, established in the accord with IMF and the European Commission. 'We say EC asks us to observe the 3% target when IMF says that just constriction measures are not enough to get out of crisis. That is why I insist and tell the premier and the finance minister that we should renegotiate the deficit figure because the situation in Europe in different now compared with three years ago when the excessive deficit procedure was applied,' Lakatos showed.

Rusanu also supports the suggestion to renegotiate the accord with IMF. He pleas for a bigger deficit, so that the state could benefit from reserves for investments. Rusanu criticizes the way in which the government and Traian Basescu negotiated the accord with IMF. 'It was a huge mistake made by the government and by those who negotiated the loan be made for three years. The fund has to support an economy in difficulty for 8-9 years. Greece and Portugal made a loan for 20 years and we do it for three. The whole accord with IMF will be renegotiated when we come to power,' said Dan Radu Rusanu.

Viorel Stefan does not give any chances reaching the deficit target, 'The deficit target for 2012 is a very complicated because we talk about the deficit and the 3% target is not achievable. It seems impossible to me.'

Black hole in state rules – private management considered confidently

Considered as real black holes for the economy, as well as a way of paying back political clients, big state owned companies are seen as a potential vector of economic growth. The chairman of the budget-finance commission in Senate, Ovidiu Marian (PDL) acknowledges that the politicians use big state companies in the interest of parties.

The UDMR deputy is more cautious about the efficiency brought by foreign managers. 'The biggest hole for the state is state owned companies. When we say we will have foreign management, when it is selected on who knows what criteria, which are the targets facing that management and what power do managers have? I am convinced that if Romanian managers are given clear targets and powers they could lead as well as the foreign ones,' Lakatos says.

Considered the grey eminence of liberal policies, senator Ruseanu appreciates the installation of foreign managers at the head of state companies. 'Private management in big state companies is a step forward, a good thing. However the first results will be seen after one year,' the liberal pointed out.

Is it opportune to sell state actives?

'What has been left from state ownership should be privatized directly on the stock market, as it was done in Poland. I saw their system which is common sense and very transparent,' is the solution brought by democrat liberals to obtaining funds for the state budget.

Lakatos contradicts him. 'Out stock exchange is too weak and I am not sure we could get the results we count on from privatizing state active stock. Five years from now a president could say we gave stock for free, as the present president said about privatizations made nine years ago,' Lakatos declared.

USL does not agree with selling state stick in conditions of crisis. 'Selling state shares is not an economic measure. You gain nothing from that. Money from sales will go to salaries , pensions and not to investments. State shares are a constant source of income,' said Dan Rusanu. Deputy Viorel Stefan agrees: 'the transfer of property in situation of crisis is not the smartest move, selling shares means giving them for free.'

How additional money could come to the state budget

'Kogalniceanu card may be a solution, small firms need some oxygen, a rapid support to obtain credits,' is the solution found by Petru Lakatos. He pleas for a freer exchange rate saying that 'higher inflation would not be a bad thing.' 'More money could come to the budget by curbing fiscal evasion, by having access to European funds and stopping irrational investments,' Stefan declares.

Sursa: http://www.actmedia.eu

Tags: economic state lakatos senator could deficit which stefan rusanu government years finance pensions budget crisis management companies target growth accord commission

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