PM Ponta: Economic growth must be kept for longer to translate in incomes

Romania’s economic growth in H1 is higher than the projection in the Agreement with the International Monetary Fund, but we must keep this trend for longer for it to translate in incomes and the living standard, Premier Victor Ponta said in the opening of the weekly government meeting.

„Our program now is very simple: we take care about bread, Mr. President about the circus. We have normal decisions to tend to in today’s meeting. I only want to reassert that just like you, I have seen the figures released by INS for the first half of the year. The growth is higher than projected in the agreement with the IMF. As a matter of fact, the IMF also agreed with an increase of the initial projection. May God help us keep this positive trend, which will definitely not be visible in a month or two, but only if we manage to keep it for a longer time. It will then translate in incomes and the rise of the living standard. I want everyone to remember that we took over in May (2012, Editor’s note), after two quarters of economic decline, so after recession. In a problem-ridden Europe I think, though, that [Romania] is headed for a good direction and I want all the measures we will be taking further to be tailored to this effect,’ said Ponta.

The head of the government reminded also that 730 million euro worth of European funds have flown to Romania in July and that all the ministers must be credited with this achievement.

„Last month’s inflow of 730 million euros is roughly equal to the amount Boc took up in three years of government, package full with Udrea,’ Victor Ponta remarked.

Recently, the IMF revised upwards Romania’s economic growth forecast for this year from 1.6% to 2%.

The Tax Council considers the 2% economic growth forecast for 2013 is realistic, provided that the agricultural year is at least normal and makes a substantial contribution to this growth.(Agenţia Naţională de Presă AGERPRES)

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