As such, commenting the statistics according to which Romania had an external debt of 17 billion euros in Dec. 2004 and 78 billion euros in Sept. 2009, Basescu said this is private debts. “It is not the state’s debt.
We discuss about the private debt because (in 2004 – editor’s note) there were no foreign investments. Therefore, in the period 2005 through 2009, investments in the value of 53 billion euros were made in Romania. The money is here, in Romania and those who invested, to the extent the investment starts to produce, or even ahead, have to start re-paying it. Therefore, do not confuse it with the total debt, because those 53 billion invested since 2004 up to now translate into debt on Romania’s territory”, he said.
To this end, the president exemplified with Ford investment in Craiova and Renault investment in Titu. “Some money borrowed by Renault and Ford entered Romania, money Renault and Ford must pay back. Therefore, do not confuse the state’s debt with the state’s debt plus the private debt. And you should know that the private debt increase is not necessarily bad because it generated jobs. If we failed to have the said investments in this interval, most likely we would have ended with 1.5 million jobless”, he also said.
On the other hand, as for the advance of euro/leu exchange rate from 3.87 to 4.27 Basescu appreciated it was the crisis effect. “We also had to boost exports because they secure jobs”, he added.
Basescu also referred to the fact that, in the past five years, the average pension rose from 232 to 620 lei and the net average wage from 690 to 1359 lei. The President also noted that, based on Q3 statistical data, he is more optimistic as regards the economic growth re-launch, appreciating that it is going to happen in Q2 next year.
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