Boc: Romania might pay fines several billion euros if we do not adjust deficit

Romania might pay fines worth billions of euros and lose European funds if it does not adjust deficit, said on Tuesday PM Emil Boc.

According to him, Romania bears the sanction implemented by the European Commission on the initiation of the procedure for excessive deficit, because of the policy led by former Government.

‘Unfortunately, Romania is bearing this sanction (the procedure on excessive deficit) from the European Commission because of the irresponsible policy of the PNL Government (National Liberal Party).

They spent money on consumption, they threw money on various things, they did not spend on investments, they did not make savings and we are in the situation to adjust the deficit so that we stand below the level of last year’s deficit, or else Romania will pay fines worth billions of euros, it will lose European funds and obviously in this situation all Romanians will lose,’ said Emil Boc.

According to PM Boc those who say how the budget should look like, had to do so when they came on the verge of disaster by the deficit they let of 5.4 percent.

‘This means irresponsibility in managing public finance in Romania, what PNL did in 2008, said the head of the Romanian government.
The European Commission will examine in the weekly meeting of Wednesday the issue of public deficit in Romania, Poland and Malta, and it is likely the excessive deficit procedure in the case of these countries be set off.

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