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FinMin: Analysis made with IMF, EC reveals nine-month results very good

The economic-financial results of Romania in the first nine months of the year are very good as revealed by the analysis made with the IMF and European Commission officials, Public Finances Minister Gheorghe Ialomitianu said before a meeting of the Democratic Liberal Party's (PDL) National Standing Bureau on Monday.

He stressed that the optimum should be found in 2012 in order to meet a budget deficit that should ensure the country's economic growth.

'We are in talks with the IMF and the European Commission. We'll have a meeting today at 4 p.m. We examined the results for nine months, the results are very good. We are discussing the 2012 draft budget and we must find the optimum between a budget deficit that should ensure economic growth and the financing manner, because we do not want to fall into the trap of borrowing on high interests and to spend the deficit on interests', the minister explained.

Ialomitianu also commented the recent proposals made by the opposition Social Liberal Union (USL), which he said lack professionalism.

'I saw the conditions set by the USL. One cannot increase expenditure and cut taxes, because the impact would amount to 20 billion lei and the deficit would be widened by 3.6 percent, which would lead to violating the European laws on the procedure of emerging out of excessive deficit. Moreover, we proposed to cut the expenditure for goods and services by 50 percent. Let us not forget that out of the 31 billion in goods and services spending, 16 billion is for medicines and medical services. I do not think the USL wants to diminish the medicines and the medical services, to close hospitals. I think this is lack of professionalism and those measures calling for cutting taxes and increasing spending are the result of an unnatural relation between the left and the right', he said with respect to the fact the USL is an alliance of Social Democrats, Liberals and Conservatives.

The finances minister voiced hope that the best way to allot resources for investment and to finance the deficit would be found following the consultations with the IMF and the Commission.

Ialomitianu said the 2012 draft budget will be put forward to Parliament after the end of the negotiations with the IMF and the European Commission.

Sursa: http://www.actmedia.eu

Tags: deficit results

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