The Minister of Finance, about the effects of a “large deficit”, after noting “some speech slip”. “It is not just a technical issue or a government objective”
Alexandru Nazare, Minister of Finance / Photo: Inquam Photos / George Călin
The Minister of Finance, Alexandru Nazare, said on Tuesday that Romania is “far from respecting the European threshold of 3% of GDP for the budget deficit”, and “the fiscal-budgetary packages are now essential”.
The minister claims that he has noticed “some speech slip” in the public debate on the budget deficit.
“I follow with interest the public debate from this period and I particularly draw my attention to some speech slides and the directions of distraction from the basic economic truths,” said Alexandru Nazare, on Tuesday, in a Facebook post.
He also spoke about the causes for which he claims that the governors are “forced” to take “now recovery measures”.
“In recent years, Romania has had the largest deficit in the European Union. In Pandemic, all states have increased their expenses to support the population and economy. The difference is that, while other countries have gradually withdraw these measures, reducing its deficits, Romania remained with a high deficit-but not because of the pandema, but because of the pandema, but because of the pandema Revenue than it should, ”the Liberal continued.
The effects of a “great deficit”
According to the Minister of Finance, “a large deficit means more public debt”, as well as “higher costs”, but also “less money available for roads, hospitals, schools or investments that create jobs and other opportunities”.
“How far are we from our European neighbors? With an average of over 7%, Romania is far from respecting the European threshold of 3% of GDP for the budget deficit. The reduction of the deficit is not only a technical issue or a government objective. It is about how we ensure stability, credibility and the chance of a healthy long -term economy, which will offer Alexandru,”
He argues that “the fiscal-budget packages promoted now are essential” because “they correct the imbalances, restore the confidence of investors and reduce the state financing costs”.
After the PNL meeting on Tuesday, the first vice-president of the Liberals Ciprian Ciucu announced that the second package of measures will be adopted next week, by committing the Government's responsibility in the Parliament, as was the first package.
