Loading ...“If we discuss about major risks, the current account deficit no longer poses problems because it contracted a lot. The problem is the consolidated budget deficit. (…) The populist measures adopted in the past were anchors fixed on the budget. Social security expenditure accounts for two thirds of the total spending, namely 64 billion lei. As well, 45 billion lei represent the wage spending in the public sector”, said Gheorghe Pogea.
According to the Minister of Finance, in case Romania has a collection from taxes and duties of one hundred percent, budget revenues would rise by 1.5 percentage points. “We have zones where collection is 89 percent, in others 92 percent”, said Pogea.
At the same time, Gheorghe Pogea remarked that the public debt is within reasonable limits by comparison to other European countries, but its growth pace is worrying.
“Romania is a country with a small public debt, accounting for 28 percent of the GDP. But its growth pace is dangerous under conditions in which we want to cut the budget deficit from 7.3 percent in 2009 by more than 3 percent in three years time”, said Pogea.
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