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Bucharest
October 20, 2020
ECONOMY POLITICS

President Iohannis: We cannot talk in Romania about a restart of economy, because it has never been stopped

President Klaus Iohannis has stated on Friday that it is “clear” that Romania’s budget deficit will be higher than the one planned and it will have to be funded.

“We discussed about the economic situation, the budget situation, the general situation. In this discussion, we focused, after the introduction, on two topics – the first being the budget deficit. It is clear that we will have a higher deficit than the one initially planned, (…) in the beginning of the year, and this deficit must be funded and I had a very good talk in order to see what measures are feasible, what measures are required for the economic revitalisation. (…) What we all want is to have a good funding for the deficit, so that we won’t need additional austerity measures. Very coherent measures are needed, which can allow us to encourage this economy, which is currently in a special situation, in a crisis situation,” the head of state said in a press statement held at the Cotroceni Presidential Palace.

The head of state held a meeting at the Cotroceni Presidential Palace with Prime Minister Ludovic Orban, Public Finance Minister Florin Citu and Governor of the National Bank of Romania (BNR) Mugur Isarescu, in order to assess the economic situation in the context of the crisis generated by the COVID-19 pandemic.

Iohannis underscored that not just important topics have been tackled at this meeting, but very good solutions. The head of state mentioned that we cannot talk in Romania about a restart of economy, because it has never been stopped.

“Romania’s economy hasn’t been stopped, there have been certain sectors which stopped, however, overall we didn’t have such a measure,” Iohannis said, according to Agerpres.

The head of state showed that solutions have been found for every matter.

“It is obvious that these solutions can be best put in practice if all the entities that have been here today at the table work together. They have also worked until now, we will boost the works. We have programmes, we have solutions for funding the deficit, for the economic revitalisation and we believe that, if we do things as we should and as we proposed, then, we have good chances for the Romanian economy to recover and get out of the totally unpleasant situation quite quickly, the crisis situation in which we are now,” Iohannis concluded.

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