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Tanasescu: 2013 to be good year for Romania, has chances to draw more European money
2013 will be a good year for Romania, since it has the unique chance of being able to draw more European money, to use cheap investment money, European Investment Bank vice president Mihai Tanasescu told the public radio station on Thursday.
'I generally believe 2013 will be a good year for Romania. Let us not forget that Romania, over the last three years - 2011, 2012 and 2013 - has been among the few countries in Europe to have economic growth. We have positive economic growth. We have no fluctuations. There is, therefore, stability, there is political stability first and foremost, there is macroeconomic stability, there is a reform programme to has begun and should be accelerated. All these plus-mark elements, which will certainly be revealed and implemented as fast as possible, can only lead to an increasingly better perception,' Tanasescu stressed.
He added: 'We have a great chance, a unique chance, which very many countries do not have, namely we can draw more European money, we can use cheap investment money, such as the money from the European Investment Bank, for instance, we can use resources for big projects, so that the economic growth should indeed reach the potential Romania has at 3-4 percent. Such thing is possible, it is possible to have a two-three year span to be able to reach this potential'.
The EIB official underscored the important thing is that Romania is moving into the right direction, into a positive direction.
'It is less important whether there will be growth, be it at 1.6 percent, or 1.8 percent, or 1.9 percent. The important thing is that by the methods we use, by the public policies we apply, we should continue this economic growth trend during the coming years', Tanasescu said.
According to him, drawing the European Union funds is the main engine likely to influence the speed of the economic growth and next come agriculture, research and innovation, exports of machinery and equipment.
'Drawing the European funds certainly is number one, I think it is the engine that can influence the speed of the economic growth. I am speaking of drawing the European funds for infrastructure, not only highways but also power infrastructure, railway transport. Next comes the agriculture sector. Let us not forget the research and innovation sector, but also, last but not least, the exports of machinery and equipment, a very important sector, where Romania plays an important role', Tanasescu said.
Future cooperation with IMF, EC is important for reform progress signal
Romania does not need to sign a new funding agreement with the international financial institutions, from the financial point of view, but a future cooperation is important for the reform progress signal, Vice President of the European Investment Bank (EIB) Mihai Tanasescu told Radio Romania Actualitati (News) public station.
'From the financial point of view, Romania does not need a new agreement, because it has the capacity to take loans from the financial markets, has the powerful capacity, in my opinion, following the efforts made by the Romanians, to restore economic stability and to continue the macroeconomic consolidation. But, at the same time, I believe that a future cooperation with the European Commission, with the Monetary Fund is important to send a signal on reform progress, because undoubtedly, if this future cooperation is achieved, it will be mainly focused on the structural reforms I was referring to. So, Romania overcame the stage of mistrust. Romania already belongs to a class of increased confidence showed by investors. Now we need to attract more significant investments and funds for projects,' Tanasescu said.
As for a possible extension of the current agreement, the EIB official considers it is extremely necessary.
'I believe that this extension is extremely necessary, because, as I was saying, in order to prove the capacity to take measures, you need time to implement them. Of course, an extension of the agreement by a couple of months is not the end of the world. The important thing is for this extension that will probably be requested, to have a final point, that is to succeed in implementing the reforms the authorities shall pledge to put into practice,' Mihai Tanasescu also said.
Tanasescu: I think IMF, EC, WB current visit's goal is to outline economic policy for 2013 and on
The European Investment Bank (EIB) vice-president Mihai Tanasescu believes that the current visit by officials of the International Monetary Fund (IMF), the EU Commission (EC) and the World Bank (WB) is aimed at defining the economic policy of the year 2013 and on, its key points being however this year budget and the structural reforms to be enacted in the state-run companies.
In his opinion, the situation of the delays in the structural reforms can be resolved through the political will of going forward.
'I think there is a very simple way of solving it, namely the political will of going ahead, the will of making these companies viable, in an as short as possible time, and of turning them from public-money eaters, which consume the money of the tax-payers, into state-budget contributors, Surely, the process is not simple. It probably takes time, but it is important it should start, be monitored and enacted during the coming years,' Tanasescu told Romania Actualitati Radio station.
The IMF, EC, WB joint mission that started on Tuesday is the seventh and the eighth assessment of the Stand-by Accord with Romania.
The visit due to end on Jan 29 is approaching topics such as the recent developments in the Romanian economy and the 2013 budget.