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PM Citu: Romania must swiftly make transition towards competitive, digitalized economy

Inquam Photos / Octav Ganea
Florin Citu

Romania must "swiftly" make the transition, in the next four years, to a competitive economy, which promotes know-how, Prime Minister Florin Citu said on Tuesday, expressing hope that the strategy for the capital market development will be approved as soon as possible in order to boost investments.

"We must now make the transition and we have to make the transition swiftly, we have to do it in four years. So this is the challenge for us, because, I am telling you, without a strong economy, an economy that is competitive in the EU, but also globally, the rest, everything we hear in the public space, is just populist promises. And this time I want it to be very clear, from my point of view, that everything we do through the act of government must result in a strong economy, a competitive economy, an economy that will stand on its own two feet," Prime Minister Citu told a video-conference titled "The Stock Exchange in the year of the health crisis and economic uncertainties".

The head of the Executive stressed that the attitude towards attracting investments will also have to be changed.

"Let's not have that attitude of waiting for investors to come to us, we are preparing and waiting, no, let us go after investors ourselves. So, we have to enter the playing field to attract investment," the prime minister said.

"[The strategy for the development of the capital market] is a very important thing and it should happen as soon as possible. At the same time, on our part, the Government has already adopted a bill that went to Parliament to repeal last year's nonsense that did not allow state-owned companies to be listed, I hope this will happen as soon as possible," said Florin Citu.

The prime minister mentioned that he is intent on a strategy in this regard for the capitalization of the state's financial institutions, but he added that "in order to reform these institutions we need capitalization and it is not the state that will conduct this capitalization".

He stressed that another course of action is to eliminate the waste of public money and keep public spending in check.

According to the prime minister, Romania must also benefit from the "very good" evaluation of Standard & Poor's during this period.

The Prime Minister reiterated that he does not envisage the increase of taxes, and as concern taxation he will continue the implementation of new projects, among which e-invoicing.

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