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President Iohannis: We need policies to get economy and public finances back on track

Inquam Photos/ Octav Ganea
Klaus Iohannis

President Klaus Iohannis stated on Thursday that the former Government left a budgetary deficit of 29 billion and underscored the need for firm and efficient policies, to get the economy and public finances back on the track of balance and sustainability.

The head of the state participated in the 26th edition of the National Companies Top, organised by the Romanian Chamber of Commerce and Industry.

"Despite a disastrous PSD (Social Democratic Party) governing act - and this is not from the campaign, but from reality - and the numerous obstacles you have been facing in the past years you managed to run your businesses and continued to make performance. Unfortunately, the remarkable results registered by your companies do not reflect the necessary consolidation that Romania needed at a macro level. The deficits accumulated in the past years seem to become threatening for our development perspectives. The budgetary and current account deficit proves that PSD led Romania on the wrong path. For instance, the former Government left a budgetary deficit of 29 billion lei in end-October, 2.8 per cent of the GDP, which exceeded the budgetary deficit planned for the entire year 2019 - and this also isn't from the campaign, but from actual data," said Iohannis.

According to the President, the trade balance deficit "escalated" and led to a "record" inflation.

"This is where the imposture and dilettantism of the former government brought us - and this is from the campaign. That's why we need firm and efficient policies, to get the economy and public finances back on the track of balance and sustainability. The PNL Government's mission to find solutions to the problems created by the previous governments won't be at all easy, but I am certain that we will make important steps the right way, toward normal Romania," said Klaus Iohannis.

Participating in the event were also PM Ludovic Orban, Deputy PM Raluca Turcan, Minister of Economy, Virgil Popescu, the head of the Romanian Chamber of Commerce and Industry, Dan Daraban.

"This isn't just a gala, but the end, I would say, of a scientific work. I wish it wouldn't be shadowed by any electoral idea. Mr. President of Romania is here, at the 4th edition, participated in the Indagra, participated in meetings with the business environment," said Daraban.

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