FinMin Teodorovici: As much as we wish for economic growth, it cannot be sustainable without investment

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Published: 07/06/2019 09:17

Sursa foto: Atlantic Council

Investment must be sped up because, as much as we wish for economic growth, it cannot be a sustainable growth without investment, on Thursday night said Finance Minister Eugen Teodorovici at Antena 3 private TV broadcaster.

"I said it to my colleagues in the gov't, especially to those in Transports, Health care, in the main areas where there is a lot of money allocated for investments, to speed up the investment because as much as we wish for an economic growth, without investment in the public and private areas, there cannot be any sustainable growth. And here, further efforts need to b made. Now, perhaps in a new context, a political one, too, things are settling, people are beginning to do their job, the companies resume their confidence in Romania's economy, and this is very important and step by step, we move further to what we all wish for, I mean massive investment in the public area, in particular and not least in the private area, too. This is what we want. To see all these huge investments because if you invest one euro in infrastructure it brings you two euro in the economy, at least," Teodorovici explained.

The Finance Minister said that the funding matter is not the reason why the infrastructure projects are not completed, but it is about the very low capacity of certain structures with the public area.

"At local level, the projects on schools, water, sewerage are moving ahead very well," he added.

Teodorovici voiced his belief that the new head of the National Agency of Tax Administration (ANAF) Mirela Calugareanu will recoup the delays as regards the collection of revenues.

"This appointment of Mrs. Calugareanu, the new ANAF president, is a decision I assume entirely. She is a colleague who knows the system very well, she is a system's person. I'm confident she will recoup the delays in collecting revenues for the ANAF. In exchange, what I also promised last year, the big projects such as securing the customs, the traffic control, the cash registers, the IT system, all these will be closed as subject at the latest at the end of next year. Naturally, many of them will be carried out this year, too. The collection part will grow. The target decided upon for this year for the ANAF collection, meaning 28 pct of the GDP, but the obligation is 30 pct of the GDP for this year in tax collection. It is a target we will fight for to the very last day of 2019," minister Teodorovici said.

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