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Voinea: This year, in Romania the crisis is over
Romania will record this year economic growth far higher than what was estimated when building the budget for 2014, said, on Monday, the Minister-delegate for Budget Liviu Voinea, during a conference on the topic of the contribution small and medium enterprises (SMEs) bring to economic growth.
'In 2014, the economic growth will be high above the expectations upon which the budget was built. Precisely because the economy is improving and consolidating this improvement people should have trust and consume, companies should invest and banks issue credits. The crisis is over, but a joint population-company-banks effort is necessary. The state will not make economic policy mistakes as those up to 2008 and brutal adjustments like in 2009 and 2010. The state is the first to trust, public investments will grow by one billion euro, given that the budget deficit will diminish', added the official.
He mentioned a few of the aid measures that the Government initiated for small and medium enterprises.
'SMEs have two sources of finance: their own resources - and here we decided that reinvested profit be exempted from tax - and the resources they attract. The state is loaning cheaper, leaving more money on the market for companies, and interest rates are smaller', said Voinea.
At the end of last year, when the projected budget for this year was put together, the Government estimated economic growth of 2.2 percent for this year.
One week ago, the European Commission (EC) improved its predictions regarding the economic growth of Romania in 2014 and 2015, estimates showing 2.5 percent economic growth in 2014 and 2.6 percent in 2015 at this moment, while the previous predictions done in February showed economic growth estimated at 2.3 percent and 2.5 percent, respectively.