Current government achieves European integration and rise in incomes

The current government has not only the merit to have been able to stay in office, firstly, it has hit some very important targets, such as the EU integration, the doubling in GDP, the doubling in income and consolidation of pensions, said Minister of Economy and Finance Varujan Vosganian.
In an interview for the Ziua daily, the minister said that budget investment, which stood at 8.9%, in 2004, rose this year to almost 18%. If budget investment has advanced, it has been normal for expenses in salaries to go down. "But salary expenses in Romania’s budget stands at almost 28%, they are the highest in the EU. So, we rank first in point of expenses in investment and in points of investment in salaries alike," Vosganian also said.
A performance in the local economy was that inflation was zero this July, and it will be the same in August, most likely. The Government has committed itself to keep the budget deficit at 3%, and the foreign public debt of Romania at 17-18% of GDP.
As for a tough landing in the economy, the minister said he is not worried. "Let’s look at the warnings last autumn. Rating agencies said economic growth will slow down, they said that Romania is among the countries most vulnerable to the effects of financial crises. The program of pension rises cannot be achieved, the agencies also said. But Romania has proved to manage well the effects of the international financial crisis."
Vosganian believes that some bad predictions are aimed at disheartening foreign investors.
Foreign investment increased a lot. If, between 2001 and 2004, the annual rise in foreign investment stood at 1.5 billion euros, over 2005-2008 the annual average stood at 7.5 billion euros, and this year it can reach 10 billion euros. He believes in the next four years the country will receive some 25 billion euros from the EU. "Romania will have from the budget some 30 billion euros worth of investment; it will have investment in the energy infrastructure of at least 15 billion euros," Vosganian also said.

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