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L. Voinea: Agreement with IMF should be made public

The measures the Romanian authorities should take for diminishing the deficit under three percent are those in the agreement with the International Monetary Fund (IMF).

So, in the current conditions, the Government of Romania should make public the agreement with the IMF, to know what measures the Executive intends to take for the cutting of the deficit with the International Monetary Fund, said on Wednesday, in an exclusive Liviu Voinea, executive manager of the group for Applied Economy (GEA).

Romania has, at least theoretically, a plan for the cutting of the deficit, we cannot say that they are additional measures, and that they have been adopted following a recent decision of the Commission.

Virtually, the commission only asks a plan for the opening of the procedure of infringement. Virtually, the Commission asks no more than a plan for the re-entering normalcy on a medium term.

I do not believe that the measure of opening the procedure of infringement has a psychological impact on the foreign investors, given that, with the exception of us, there are more EU member countries has a psychological impact on the foreign investors, given that, with our exception, there are ten more member countries against which this procedure was started.

The reaction of Brussels in the case of Romania is normal, given that last year Romania exceeded the limit of three percent of the budget deficit, ‘LIviu Voinea stressed.

The countries members of the European Union, against which there currently is, the infringement procedure, because of the excessive budget deficit are Poland, Romania, Lithuania, Latvia, Greece, Malta, France, Britain, Spain and Hungary.

In its decision, Brussels specified that Romania had a pro-cyclic policy, registering an explosive increase in demand between 2005 and 2008, with the domestic deficit growing from 1.2 percent in 2005, to 5.4 percent in 2008.

This situation has made the authorities of the European Union decide that exceeding the value of 3 percent cannot be considered exceptional, having the global crisis as a cause.


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