President Basescu urges Govt to cut budget spending

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President Traian Basescu on Tuesday (Jan 20) has urged the Government to cut public spending and has stated that both the Government's estimations and the European Commission's forecast on Romania's 2009 budget deficit are accurate.
 
"I can confirm that the European Commission's estimation on Romania's 2009 budget deficit of 7.5% of the gross domestic product is accurate if all of the 2008-adopted laws will be applied. The estimation is also confirmed by our evaluations following ministries' requirements at the first budget analysis that pushed the gap towards 9% of the GDP…
 
So both parties having presented the figures are right, the Government, which announced its intention to build a budget with 2% deficit and the EU, that has considered the Romanian laws in force, which applied, would lead to this catastrophic deficit that push Romania into an extraordinary crisis and towards macroeconomic imbalances impossible to control," the head of state said at the presidential Costroceni Palace, at the swearing-in ceremony of new Minister of Administration and the Interior Liviu Dragnea.
 
Moreover, the President has said, the Government will have to rationalize budget spending to reach its goal.
"I want to make public the fact that the difference from 7.5% budget deficit accurately estimated by the EU based on the current Romanian laws is an extraordinary effort of the Government to rationalize budget spending, to reach the figure presented by the Finance Minister at the ECOFIN gathering today, namely, a 2% budget deficit," the President said.
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