Basescu: If we donĺt cut public spending now, we will have to take another loan in March

President Traian Basescu said that if the Government failed to take any cost-cutting measures, in March 2011, Romania would have to take a new loan to stimulate consumption and stressed that this way, the country’s economic development would be affected.
“If we don’t take any measures to cut back on public spending, especially in sectors bleeding millions in taxpayers’ money, we will have to take a new loan from the International Monetary Fund that will go to consumption. We won’t have money for dykes, highways or rail network modernization. We will continue to borrow to cover our own expenses. We are sacrificing the economic development”, the president told the public television station.

He added that over the past ten years, all the governing parties “preferred to sacrifice economic development for the sake of votes. “Most of the times, you, journalists look at the costs of election campaigns, and you are wondering about the sponsors. It is a legitimate question. At least from 2000 to date, the state budget has been used by governing parties to buy votes. And look what’s happening: one year or two before the elections, parties raise social benefits, pensions and wages on taxpayers’ money. We have only one alternative now: that of political responsibility”, said Basescu.

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