ECONOMY FINANCE&BANKING

PM Tudose: 2016 a failure in terms of projects started, but we compensated for it

Prime Minister Mihai Tudose stated on Friday that 2016 was “a failure” in terms of projects started, an aspect which lead to low public spending for investments in the first months of 2017, but we have compensated for it.

“Another myth regarding the decline of investments in economy disappears today. According to the INS [the National Institute of Statistics], net investments of quarter 3 were higher by 10.3 percent compared to the same period of 2016. Moreover, the investments of the first nine months of 2017 increased by 3.6 percent compared to the same period of the last year,” Tudose wrote on Facebook.

Furthermore, the head of the Executive voiced hope that “those seeing only disasters” will prove more responsibility.

“I hope for those who are seeing only disasters to prove more responsibility and put things into context when saying something. 2016 was a failure in terms of projects started, an aspect that lead to low public expenditures for investments in the first months of 2017, but we managed to recover it,” Tudose stated.

Net investments made in the national economy accounted for over 50.09 billion lei in the first months of 2017, increasing by 3. percent compared to the similar period of 2016, a release of the National Institute of Statistics (INS) issued on Friday reveals.

According to the quoted source, in Q3 of 2017 compared to Q3 of 2017, net investments made in the national economy increased by 10.3 percent, an increase registered in all structural elements, namely machines (including means of transport) by 22.8 percent, other expenditures by 11.7 percent and new construction works by 0.1 percent.

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