RSS
PM Citu: In 2020 we halted collapse of economy generated by health crisis; there will be solid growth in 2021
Prime Minister Florin Citu said on Thursday that in 2020 the collapse of the economy generated by the health crisis was halted and "the fastest recovery in history after a period of crisis" was generated, adding that in 2021 there will be a solid growth.
"In 2020 we halted the economic downturn caused by the health crisis and generated the fastest recovery in history after a period of crisis. A V recovery of the economy. The reforms we will implement in this government, along with everything we did in 2020, guarantee a solid economic growth in 2021," Florin Citu wrote on Facebook.
He gave assurances that "we will have a stronger and more efficient economy for the benefit of all Romanians."
În turn, the Chairman of the Social Democratic Party (PSD – opposition), Marcel Ciolacu, said the European Commission is alerted that Romania's public debt will reach 100 percent of GDP and confirms that the Citu Government will be obliged to take fiscal consolidation measures - namely austerity.
"The European Commission confirms everything we have warned since November 2019: governing on debt that has exploded; zero measures to stop the waste of public money and zero measures to increase revenue collection to the budget. The PNL [National Liberal Party]'s lack of vision has led to the situation where a fortune has been spent as compared to the collected revenues leading to the greatest economic collapse and weakest recovery in the EU. It is confirmed that Romania, unlike the other EU countries, spent the money foolishly without coming up with a serious incentive and recovery plan. The results are catastrophic. (...) The European Commission is alerted that the public debt will reach 100 percent of GDP and confirms that the Citu Government will be forced to take fiscal consolidation measures - austerity measures, that is. That is why they are further postponing the presentation of the budget, somewhere in February, which means that the country will have a budget only in March! Until then, zero investments," Ciolacu wrote on Facebook.
He added that after "breaking record after record in loans in 2020", the Citu Government started the year "with another loan of 1.1 billion lei, at high interest rates".