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President Basescu: Our main goal for 2012 is to remain prudent


The main goal related to the 2012 budget is for us to remain prudent, given that the global economic context continues being uncertain and it is difficult to anticipate what will happen, Romanian President Traian Basescu said this evening, at the beginning of a meeting with the International Monetary Fund (IMF) officials, currently on a visit to Bucharest.

„Some fresh air in this atmosphere was obtained at the European Council this week, but it is only some fresh air”, Basescu said; the effect of a delayed solution by the European leaders to the sovereign debt crisis will keep on being felt, he added.

The President announced that Romania, last week, had reached an alert level relating the country’s Credit Default Swap (CDS) figures, but he said he hoped the CDS would further improve.

Basescu underscored that the figures obtained for the third quarter of this year are better than the original expectations and the IMF delegation chief Jeffrey Franks agreed, saying he shares the Government’s viewpoints of these figures. Franks added such results are due to the good agricultural crop, but the reforms for the macro-economic consolidation must continue.

The Romanian leader said that the building sector also recorded an improvement amid the dropped inflation and the people’s increased interest in buying.

The diminished inflation is the best news, Franks said too, adding the inflation dropped much beyond the mid-year expectations, which is to the population’s good.

The IMF delegation was invited to the presidential Cotroceni Palace by President Basescu Sunday evening to examine the results obtained by the Romanian economy this year and to look into the figures for the 2012 State Budget Law.


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