COMPANIES ECONOMY FINANCE&BANKING

PM Tudose: A 3.2pct H1 deficit means below 3pct at year-end; August revision, mostly positive

Prime Minister Mihai Tudose says the government deficit of 3.2 percent of the of Gross Domestic Product (GDP) in mid-2017 means one below 3 percent at the end of the year, noting that opposition voices claiming there is no money to pay the pensions and wages show irresponsibility as far as the national interest is concerned.

“The first half is always the worse than the last one. It starts with winter, when nothing moves; the 3.2 percent in H1, the worst, is proof of our positive thinking and commitment to not exceed 3 percent, I can say that it will be just under 3 percent. There are voices in Romania that quote Eurostat as saying it is 3.2 percent. I got it, so what? I am telling you that 3.2 percent in the middle of the year means less than 3 percent at the end of the year because projects are staring to move now, money goes into the economy for big projects. European money has came, which was not the case in the first half of the year, so these are a few arguments,” Tudose told Antena 3 private broadcaster in an interview on Sunday, responding to a question about data released by Eurostat indicating Romania’s H1 2017 government deficit standing at 3.2 percent of the GDP.

He also said that voices from the opposition claiming there will not be money for pensions and salaries are irresponsible.

“The fact that there is still a public voice in the opposition that says: OMG, you will not have money for salaries and pensions; OMG, you will bankrupt the country. You know, at some point that’s irresponsibility as far as the national interest goes. You should not be so irresponsible as to publicly such messages as the opposition leader; that is absolutely irresponsible. I think it will be the last time I respond to such stupidity,” added Tudose.

According to him, measures of economic and financial discipline will lead to budget balancing.

“Certain measures of economic and financial discipline will definitely lead to budget balancing and keep the deficit at 3 percent. This means more intensive, more assiduous work from the National Agency for Fiscal Administration (ANAF), on financial discipline, and in fact it was also about putting into practice big investment problems,” the PM said.

In connection with this August’s national budget revision, Tudose said he hopes it will be positive in the main, without giving any further details. “I do not revise the budget on TV; I will show it, and we will talk about it when it is ready. I can assure you that there is money for wages, there is money for pensions, there is money for the healthcare systems, for education and for investments,” added Tudose.

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