PM Ciolos: Further tax cuts as of January 1 must be discussed with the parties, it would put high pressure on budget

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Prime Minister Dacian Ciolos said on Friday that new tax easing measures scheduled to take effect as of January 1, 2017 should be discussed with the political parties, but said that such measures would increase the budget deficit to more than 3%.

“We need a discussion with the parties, because it’s not about what the incumbent Government wants, but about what the future leaders want for the years to come. In my opinion, exceeding the 3% budget deficit would be a bad signal from Romania and would be a pity, given that currently Romania is perceived as a stable county politically, but also economically, with good prospects for the economy. It would be a pity to give such signals due to our inability to curb spending, which otherwise can be restrained if we do not mean an election year.”

The Prime Minister added that new measures of fiscal easing would put “higher pressure on the budget,” but maintaining the budget deficit within the target range is a political decision.

“Regarding the deficit, this is a political decision, to keep the deficit within the 3% limit and I think it is a good signal abroad – the interest to invest in Romania increased. I feel this for several months, this is why I pay visits abroad, economic visits to present the context in Romania, which is not always very well known,” Ciolos said.

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