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January 17, 2022

Liberals say PM Ponta manipulating economic data

The opposition Liberals (PNL) say Prime Minister Victor Ponta has been lately conducting “an intense campaign of manipulation of the economic data, which he presents in a triumphal manner with the mean goal of groundlessly claiming merits for himself”.

“One of Ponta’s great boasts relates the direct foreign investments, which have surged nearly 40 percent in the first six months. It is true, the foreign direct investments have grown, but Victor Ponta forgets to say that such investments in 2014 were at one of the lowest levels in ten years (for example, the maximum was hit in 2008 – at 9.8 billion lei and in 2014 Romania had a rather symbolic level of 2.4 billion lei). So Ponta compared a lower counter-performance to a higher counter-performance and the result for him was a plus”, the PNL Press Office said in a release to Agerpres on Saturday.

It adds “Ponta forgets to say the foreign direct investments grew thanks to the credit given by the non-residents, that went up from a negative value of 161 million lei to 713 million lei”.

“If the premier understood something of the Central Bank reports, he would realize that the signal of the foreign direct investments is a negative one, since the investments in the share capital of the commercial companies fell 35 percent (to 853 million lei from 1,312 million lei) and now we have a counter-performance higher than last year’s. Any common-sense man understands that when the funding is chiefly given as loan (that can be withdrawn much faster in the event of systemic problems), not as share capital increase, then it is a signal of a lack of confidence in the economy”, the Liberals pointed out.

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