Patriciu: Single and value added tax must be cut, 4 out of 5 public workers must be laid off

Romania must lower the single tax and the added value tax and lay off 4 out of 5 public sector workers. However, in 2010 the country will face higher unemployment rates “and an acute need of cash”, said the Romanian tycoon Dinu Patricu.

“We must lower the single tax and the value added tax, deal with temporary deficits, in order to help the country grow stronger. Four out of five public sector workers must be laid off, the economic growth will offer them a variety of employment chances”, said Patriciu, without mentioning the rate at which taxes should be lowered.

The Romanian state employs 1.3 million people.

The priorities Romania should have in the coming period are the decentralization and deregulation, Patriciu continued, supporting the idea of “shock therapy” for a recovery.

“If these goals are met, the economic growth is likely to turn positive in 2010. Otherwise, predictions are optimistic”, he added.

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