PM Ponta thunders out against opponents of Romania’s economic independence, calls Romanians to stand together

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Romanian PM Victor Ponta on Saturday lashed out against the opponents of Romania’s economic independence amid criticism over Tax Code. In a Facebook post, Ponta says that all parties voted the Tax Code by political consensus and a wide consultation with the business environment, while remarking that the opponents of Romania’s economic independence are capable of anything to block these provisions. The premier also called for all Romanians to stand together.

“A piece of news confirms the fact that cutting VAT to 19 percent in the new Tax Code will be also positively impacted! (…) I think right now all opponents of our development, prosperity and economic independence are capable of anything to block the Tax Code implementation! I call all Romanians to stand together against such attempts that are obviously running counter to our interest as a country and society!” Ponta writes.

The prime minister doesn’t name who are these ‘opponents’ and what ‘Romanians standing together’ would mean.

The International Monetary Fund (IMF) has criticized the new Fiscal Code, saying his enforcement would prompt a significant fiscal deficit that would be hardly counteracted by compensatory measures.

In early June, IMF urged the Romanian government to adjust fiscal relaxation measures in the Tax Code draft.

“We believe that the government’s 2015 targets are within reach, but into next year, more needs to be done in order for the government to be able to reach its targets,” Guillermo Tolosa, the International Monetary Fund’s resident representative said on Thursday, informs, during Euromoney Conferences in Bucharest, and continued: “The gap is considerable, and the tax code in its current format will have to be scaled back significantly, because just compensating with measures on the expenditure side might not go far enough.”

IMF cancelled evaluation visit to Romania this month, informing it will expect the European Commission’s conclusions on the new Tax Code. EC is expected to reach an agreement with Bucharest on this topic during during the meeting of Finance Ministers (Ecofin) on July 14.

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