Deputy PM Ciolacu: Relaunching major investment projects, Govt’s top strategic priority

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The government’s top strategic priority is the relaunch of large-scale investment projects, Deputy Prime Minister Marcel Ciolacu told the conference “Major Projects Capable of Developing Romania” taking place on Monday at the Palace of Parliament.

“We are currently experiencing an economically favorable period. We top the EU chart in terms of economic growth, which has prompted all international financial institutions and bodies to constantly revise their estimates of the Romanian economy development this year. We will definitely go past the set growth target of 5.2 percent of GDP. However, we must be realistic and admit that we need a program of consistent and serious policies to counteract certain risks and vulnerabilities that could affect all this encouraging progress, and from this point of view, the government’s top priority is the re-launch of major investment projects. These, and not consumption should be the main development driver for a truly sustainable and competitive economy,” said Marcel Ciolacu.

The Deputy PM added that government efforts this year have been mainly directed towards unlocking infrastructure projects.

“If we want to rationally use the budget, we must make investments. At the price of great efforts we succeeded this year to get things out of idleness and attain a sustained working pace in the second half of the year. If we keep the same pace in the next 12 months, chances are that we are able to hand over between 150 and 180 km of motorway next year, with the Pitesti-Sibiu motorway and the strategically reconsidered Ploiesti-Brasov project as our major priorities,” he explained.

Ciolacu went on to say that the government will also focus on European funds.

“We have managed this year to overcome the gaps, to accredit all the authorities in charge of funds management. The money is flowing in a progressively better pace. We target an absorption rate of six – seven billion euro a year to generate major effects in the economy and maintain the current economic growth pace. We hope to close this year at 5 – 5.2 billion euro. Both the private sector, and the state-run economy overall will have the cheapest financial resources at hand to develop investment projects,” the Deputy PM said.

Ciolacu specified that another element of the government’s strategy is breathing a new lease of life in the national defence industry.

“We are aware that business people need a transparent, stable and predictable framework. Trust is the most important pillar for developing a climate that favors the strengthening of the business milieu, whether we are talking about domestic or foreign capital. We will put in all efforts to attain these goals,” the Deputy PM said.