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January 17, 2021

FinMin official: We are experienced in selling assets to strategic investors; 90 percent failures

The Government should continue to privatise the companies under its ownership on the capital market, and 90 percent of privatisations involving strategic investors were failures, State Secretary with the Finance Ministry Enache Jiru (photo) told a specialist conference on Tuesday.

‘I believe the Government should continue getting companies under its ownership private on the capital market. We should give up somehow on strategic investors. We have had a long experience of selling assets to strategic investors. Some instances were successful, but I would say 90 percent were failures. I believe openness and floating would be solutions that would also boost he capital market, which is striving to resume development,’ said Jiru.

As far as tax policy goes, he said 2016 is as a good year in terms of national budget deficit.

‘About the tax policy we have to follow the next year, I would say this is the best year in terms of the national budget deficit because of this fiscal relaxation. We have [a deficit of] 2.9 percent of the gross domestic product. In 2015, in cash terms, it was 1.42 percent. In structural terms, it was 1.1 percent. (…) Next year, the tax deficit will apparently be 2.8 percent and around 2 percent in 2018 because we will witness a second round of economic effects generated by the tax relaxation,’ said Jiru.

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