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October 7, 2022

Vladescu, ex Fin Min: Government has to boost Romanian economy

The measures for recovery proposed by the Foreign Investors’ Council make up “a non-homogeneous programme, a mixture of measures”, of which some are needed (an institution that will monitor the absorption of European funds), others fall within the scope of already existing institutions (a registry of claims in the economy), while others were proposed “because elections are organized in the Council as well” (the idea that Romania should host, alongside Hungary or Bulgaria, the 2020 Football World Cup), ex-Finance Minister Sebastian Vladescu stated, on Saturday, for Realitatea TV. Nonetheless, what Romania would truly need is “a boost which can only come from the Government – an injection of funds for infrastructure, accompanied by a faultless absorption of European funds”. This is no easy task, as the IMF set Romania two contradictory targets: the payment of overdue loans and meeting a budget deficit limit, set at 6.8 pc for the entire year. The former minister considers a progressive tax on revenue is needed at the moment, because it allows for better tax flexibility. Sebastian Vladescu added that, if the Government had taken anti-crisis measures in January, the public sector wage cuts could have amounted to only 10-12 pc.

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