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June 18, 2021
ECONOMY FINANCE&BANKING POLITICS

PSD: We note with satisfaction that international rating agencies have modified forecasts on Romania. Grindeanu: Improving Romania’s country rating is my Government’s performance; was the toppling of the Cabinet justified?

The Social Democratic Party announced on Tuesday, in a press release, that international financial rating agencies have modified their forecasts on Romania, and that the Social Democrats are noting “with satisfaction” that the revised forecasts are pointing to figures that are very close to the values estimated by the governing platform. PSD Spokesman Adrian Dobre (photo) emphasised that our country will remain within the budget deficit target of 3 percent of GDP and the measures set to be taken will boost budget revenue collection.

“This week, America’s Fitch agency has improved Romania’s economic growth outlook for 2017 from 4.8 percent in January to 5.1 percent in June, mainly due to the significant GDP growth registered in the first quarter. The Romanian Government’s official forecast for 2017 points to an economic growth of 5.2 percent,” the communique shows.

According to the PSD, “Fitch is the latest international agency to admit the efficiency of the economic programmes promoted by the Romanian Government, after the World Bank, the International Monetary Fund, the European Commission and the European Bank for Reconstruction and Development adopted similar decisions.”

PSD Spokesman Adrian Dobre stated that “the economic estimates on which the governing platform proposed by PSD was based on turn out to be correct and are confirmed by international financial bodies too, which have revised the sceptical prognoses they had published early this year, and now point to figures closer to the 5.2 percent value mentioned by the governing platform.”

“This shows that it’s a well-calculated, well-articulated governing platform that was authored by competent people. We have the conviction that second quarter data will confirm the 5.7 [percent] growth registered in the first three months of the year,” the Social Democrat added.

Adrian Dobre pointed out that our country will remain within the budget deficit target of 3 percent of GDP and the measures set to be taken will boost budget revenue collection.

“We are considering a series of measures tackling unregistered employment and the abusive use of part-time labour contracts to avoid the payment of social contributions. Likewise, another important measure is the introduction of separate accounts for the payment of VAT, in order to tackle evasion in this area. All of these measures, but also the other economic parameters, give us the certainty that Romania will remain within a budget deficit of 2.9 percent, assumed via the governing platform,” Adrian Dobre concluded.

 

Grindeanu: Improving Romania’s country rating is my Government’s performance; was the toppling of the Cabinet justified?

 

Ex-Premier Sorin Grindeanu asked on Facebook, on Tuesday, whether the ousting of his Government was justified, considering that international financial rating agencies have positively revised their forecasts on Romania and this is the “economic performance” of the Cabinet he led.

“This is the economic performance of the Government I led. International agencies have improved Romania’s country rating. The toppling of the Grindeanu Government was justified, right?” Sorin Grindeanu wrote.

 

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