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Investments increase the economy and, in particular, investments in large infrastructure are the solution to reduce the gaps in less developed areas, Prime Minister Marcel Ciolacu said, stressing that official data show that the vision proposed to Romanians when he took office as prime minister was correct.
"Facts: the annual inflation rate fell to 6.6% in March from 7.2% in February - INS. Romania's GDP in 2023 reached the highest level in the country's history, over 1,600 billion lei - INS. The number of Romanians in extreme poverty (severe material and social deprivation) fell by 855,000 in 2023 compared to 2022 - Eurostat. The official data shows that the vision proposed to Romanians when they took office as prime minister was the right one. Investments increase the economy and, in particular, investments in large infrastructure are the solution to reduce the gaps in less developed areas," said Marcel Ciolacu, in a post on his Facebook page on Thursday.
He added that the government's main objective was to increase purchasing power, especially for those on low incomes.
"We have attacked the unreasonable rise in prices by capping the price of utilities and the commercial margin on basic foodstuffs and, at the same time, we have come up with active measures to increase the incomes of employees (by increasing the minimum wage) and pensioners (by increasing pensions), through support packages for the vulnerable (vouchers for utility bills and food)," Ciolacu added.
The annual inflation rate fell to 6.61% in March 2024, from 7.23% in February, as food prices rose 2.81%, non-food prices went up 8.06% and services costs increased 10.20%, according to data from the National Institute of Statistics (INS) published on Thursday.
"The consumer price index in March 2024 compared to February 2024 stood at 100.42%. The year-to-date inflation rate (March 2024 compared to December 2023) was 2.4%. The annual inflation rate in March 2024 compared to March 2023 was 6.6%. The average rate of change in consumer prices in the last 12 months (April 2023 - March 2024) compared to the previous 12 months (April 2022 - March 2023) was 8.5%," the INS release said.
