The prime minister designate Lucian Croitoru, said during the Parliament’s plenary session that the political instability would eventually lead to an increase in the country’s financing needs, currently standing at €3.5 billion, an amount that by year-end could go up to €5 billion.
“If the public spending reforms were on track, under the tax scheme for 2009, the country would need €3.5 billion by the end of the year, namely less than two months. Putting off the implementation of these reforms would only heighten Romania’s financing needs to €5 billion, should the European Union and International Monetary Fund refuse to disburse the following tranches under the aid deal. In our opinion, a growing political instability would cost the country another €1.5 billion”, Croitoru said before the Parliament.
He added that the inexistence of a Government delayed Romania’s compliance to the generally upward trends seen in the large markets.
“It takes political determination to install a functional Government, and I invite you to exercise it”, said Croitoru.
Article comments "Political instability could cost Romania €1.5 billion"
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