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October 8, 2022

PM Orban, after consultations with the National Bank: Our common interest and objective is to corelate governmental policies with BNR policies

Our common interest and objective is to correlate the governmental policies with the policies of the central bank, in order to ensure the macroeconomic balance, PM Ludovic Orban stated on Friday, after consultations with the National Bank of Romania (BNR).

“We definitely made an analysis of the economic situation, an analysis regarding the deficits, the trade deficit, the budgetary deficit, an analysis into inflation and the inflation evolution, with all the consequences related to interests, crediting. Obviously, our common interest and objective is to correlate the governmental policies with the policies of the central bank, in order to ensure the macroeconomic balance and ensure a solid foundation for the economic development and the main result of this discussions was this decision to permanently keep in touch, coordinate decisions, both at governmental level and at the level of policies applied by the National bank to create this solid pillar for development,” said Orban.

He mentioned that the government and BNR will have a permanent dialogue and will keep informing each other in what concerns the fiscal, budgetary policies and public investments.

“You can see the fiscal policies in the governing programme. The governor knows about these fiscal solutions, namely Ordinance 114, the regulations in the energy field, communications field, financial banking field, regulation affecting the functioning of pension pillar II and other regulations,” showed Orban.

The Prime Minister specified that the discussion he had with the BNR leadership focused on how to maintain the budgetary deficit within reasonable limits. According to him, they also considered a better collection of the taxes and fees, control of the expenditures, without affecting people’s salary rights.

“You can consult our entire fiscal policy in the governing programme and of course that it has nothing to do with the introduction of new taxes. And I also want to say this: at the press conference at the Ministry of Environment, for this is how fake news are born, I was asked about the environmental tax and I said that we are first going to analyze it and then we will see what we should do, we are also going to consult with the European Commission and, instead of introducing a tax that contradicts European legislation, and making Romanians pay the respective tax and then give them their money back, losing their time, it’s better we introduce no tax. But this part was left apart. Anyway, next year, we won’t have any new tax. I repeat this to you: the fiscal policy of the government is stipulated ion the government programme,” said Orban.

In another line of thoughts, the Prime Minister said the deficit this year will be exceed 3 per cent, for sure.

“Is there still anyone in Romania who imagines that the deficit won’t exceed 3 per cent? For it surely will exceed the 3 per cent. However, we don’t need to panic,” said Orban.

He explained that he will discuss this with the European Commission and he will present what he found and a plan to remedy the situation.

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