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Romania cannot register economic growth in 2009

Romania cannot register an economic growth in 2009, given the evolutions since 2008-end, according to the latest statistical data, analyst Ionut Popescu, economic adviser of Premier Emil Boc and former Finance Minister told AGERPRES on Monday.

Referring to the intermediary economic outlook released by the European Commission on Monday, showing that Romania will register an 1.8 percent economic growth in 2009, Popescu appreciated that this forecast is 'very optimistic', even though it has in view a lower growth pace than the one taken into account by the Ministry of Public Finance (MFP) on which the 2009 budget was based, namely of 2.5 percent.

'It is an outlook. There is nobody who can tell - look, this is not true, I will provide the correct figure to you. There is no good or bad variant or some have the correct answer and the others the wrong one. Although Romania's Government cannot work otherwise than based on the studies of the National Prognosis Commission (CNP). If CNP gives the Govt. certain exchange rate and economic growth figures, MFP constructs the budget on that data. MFP cannot challenge CNP figures. Personally, I think that the European Commission's outlook on Romania's economic growth is very optimistic. I do not think we will have an economic growth in 2009. Interpreting statistical data on November, I cannot see how we could have any economic growth at all this year', said PM Boc's adviser.

As for the EC prognosis of a budget deficit of 7.5 percent of the GDP Popescu said that this level is ways too high.

'A budget deficit of 7.5 percent can be reached only if the Govt. let the reigns go loose in the spending field, which is less likely. As for salary raise for various professional categories, I do not think they should be applied, irrespective if the budget deficit allows it or not. The Govt. must similarly act in the private sector - if the private sector do not raise wages and no longer hire staff, then the state budget cannot treat the public sector employees otherwise', explained Ionut Popescu.

 

Sursa: http://www.rompress.ro

Tags: growth economic budget register cannot romania mfp

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