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FinMin Citu: Romania has managed an economic growth in real terms of 0.3% which means an annual grow rate of 2.7%
The private sector especially and the economy in general answered perfecty to the measures implemented by the government since February to reduce the effects of the pandemics, and Romania managed at the end of first quarter, against all critics and estimates, an economic growth in real terms of 0.3% against Q1 2019, which could be translated in an annual growth rate of 2.7%, says the minister of public finances Florin Citu.
‘The private sector especially, the economy in general, answered perfectly to the measures implemented by the government since February to reduce the effects of the pandemics. Congratulations! Romania managed, against all critics and estimates, an economic growth in real terms of 0.3% against Q4 of 2019. This is translated in an annual growth rate of 2.7%. We said that this growth eliminates all scenarios promoted daily by the socialist propaganda. Why? The average of estimates of analysts for economic growth was 0.9%. This is what the economists or analysts said. We have said several times it is too pessimistic and on the basis of the macro models which I use, the economy of Romania could be the only with economic growth in the EU in Q1’ noted on Sunday the minister, on his Facebook page.
According to him, all analysts and economists will revise all estimates on the basis of real data for Q1. The head of finances draws the attention on the fact that there are going to come difficult months for the Romanian economy, as well as for the population, but he assures everybody that the executive will take the best measures to reduce at minimum the negative effects of the crisis provoked by the pandemics of coronavirus. ‘ We have increased the budgetary deficit to allocate more money for health, technical unemployment, the payment of medical leaves, VAT reimbursement investments. And the deficit must be financed. At the same time, the crisis in health has not finished.
However, the Romanians must know that this government will take, as until now, the best measures to minimize the negative effects of the crisis on the welfare of all people. The figures for Q1 show without any doubt that we have taken all measures available at present’ Florin Citu said.