RSS
Liviu Voinea, Finances: the reduction of the deficit had to be made but the way in which it was done in 2010 was not the right one
Romania reduced its deficit but the way in which it was done over the last years was not the right one. The deficit was unsustainable and had to be dropped, but the direction for the change was kept after the drop of salaries, the state secretary in the Finances, Liviu Voinea said for HotNews as he wanted to correct a piece of information sent by AFP on Monday.According to the state secretary, even if in the end the target is the same, the ways through which we get to a sustainable deficit are completely different.
In 2012 Romania continued the process of fiscal adjustment started in 2010, Voinea said.I don’t think that there are many countries which would pride themselves on such results. We will continue the adjustment the next year as well, the purpose being the fiscal consolidation, with different means, without cutting down on salaries or pensions, without increase of VAT.There is room and there are non-used resources in the public sector as well, and in the private one as well, according to the state secretary.
We remind that between 1 January and 31 October 2012, the budgetary action for the general consolidated budget closed with a deficit of 7.2 billion lei, respectively 1.19 % of the GDP against -13.3 billion lei, 2.3% of the GDP respectively for the same date of the previous year.
The income of the general consolidated budget worth 159.4 billion lei, representing 26.2% of the GDP was 7.2% higher than the same period of last year in nominal terms and by 0.5 percentage points as share in the GDP.
The expenditure of the general consolidated budget worth 166.6 billion lei, representing 27.4% of the GDP increased in nominal terms by 2.9% against the same period of the previous year but as share in the GDP was reduced to 0.6 percentage point.