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Iancu Guda: ‘ Romania can obtain 100 billion euro ‘ from its own yard’.


The chairman of the Association of the Financial-Banking analysts in Romania (AAFBR) Iancu Guda considers that Romania could get 100 billion euro ‘ from its own yard’ over the next five years, by improving the collection of public income and the reduction of the public apparatus and with all these resources projects in the National Plan for Investment and economic recovery could be financed.

‘European funds have been mentioned but I can’t understand why we don’t have a look in our own yard, as here we have the main vulnerable point, where this plan (the National plan for investments and economic recovery)was attacked aggressively by the parties in opposition, saying that such promises have been made before elections and that there is no available money. If we have a look around us and we manage the performance of collecting public income at the level of Bulgaria, for example, where there is a share of 38% public income in the GDP and we have 31%, we see that we miss almost 70 billion lei every year. If we reduce the public apparatus by 25% so that we have the same dimension of the public apparatus as compared to the private sector and at the level of the population such as Bulgaria, we get another 25 billion lei per year. So, here we have 100 billion lei per year, which mean almost 20 billion euro per year, and in five years we have 100 billion euro. If we collect as Bulgaria does, and we have a smaller public  apparatus we get 100 billion euro for the next five years’ stated on Sunday Iancu Guda with Digi 24 asked which are the financing resources for the projects included in the programme for investments launched recently by the government.

He explained that this thing will not happen ‘ on the spot’ but gradually and if we manage to get to the performance of Bulgaria of 38% public income out of GDP until 2025. Similarly, the chairman of AFBTR says that the public apparatus must be reorganized and corruption be reduced, as Romania ‘ has the biggest underground economy in the EU’. Asked how to reconstruct Romania over the next period, Iancu Guda answered ‘ with a simbiosis private-public’.

The government presented on Wednesday the National Plan for investments and economic recovery which includes investments of almost 100 billion euro until 2030, in infrastructure, agriculture, health, education, sport, etc.