PM Ciolos: Budget deficit shouldn’t exceed 3 pc

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Prime Minister Dacian Ciolos says that he plans to keep in the budget the measures from the Tax Code, but also, if possible, public pay rises, showing that regarding the 10% increase state employees’ wages, the promulgation must be waited for so that the budget deficit shouldn’t exceed 3% of the GDP.
“This is what we are planning on keeping in the budget: both the measures from the Tax Code, which we find very important to recover the economic sector, we are at an economic growth stage, one of the most significant in the EU, and it’s important in this transition period, to say so, the economic sector should have confidence in those who run Romania. Therefore, that is why there are very many measures in the Tax Code that I know are good, the economic sector appreciates them, therefore we plan to keep them, to enforce them. Likewise, pay rises are necessary in many areas. In my opinion, the pay rises are also necessary, but so are reforms in the area in question. Anyhow, our plan is, as much as possible, to keep these pay rises, which have already been decided by Parliament, and the promulgated laws,” Dacian Ciolos told Digi 24 TV Sunday evening.
When asked about the 10% pay increase for public employees decided by Parliament, a bill that is still to be promulgated, Ciolos pointed out: “We must wait for the promulgation. Anyhow, in the calculation options we are going to do, we shall also take this into account, but we must see what happens with the completion of the legislative process. On the other hand, the pay rises in the administration area must be accompanied at some point by an improvement of the administrative process, for these rises to be credible.”He said that the budget deficit can be pushed up to 3% and these pay rises must be also accompanied by an investment package.
“The most we can do with the budget is to push the deficit up to 3% or under 3%, it mustn’t exceed 3%. Even so we risk having credibility problems in the long run, which risk affecting investment in the Romanian economy, but, at the moment, I believe we would have the arguments to justify an up to 3 % deficit. On the other hand, it is important for us, beyond these pay rises, which, once again, are important and justified, to also have an investment package, to make sure economic growth will not be based on consumption only,” Ciolos added.

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