PM Bolojan: First signs of normalization in economy - in spring of next year

Prime Minister Ilie Bolojan declared on Friday that from spring next year "the first signs of normalization, of recovery" will be seen in the economy, provided that the proposed measures are continued."From the spring of next year onwards, the first signs of normalization, of recovery, should be seen. This means that inflation begins to fall, it means that we are no longer talking about cuts, we are no longer talking about deficits, but we are talking about measures that will make the economy stand on more stable bases, we are talking about measures that will support some economic activities in areas where we can grow at high rates, such as the processing of agricultural production in Romania, it means policies that support our exports, it means signs that show that prices in the energy sector are starting to fall", Bolojan said on Prima TV when asked when he estimates that the most complicated period from a financial and economic point of view will be overcome and that things are going for the better.He added that the condition is that the measures be continued."These are the signs, provided that what we have done so far is continued in the coming months with measures to ensure fiscal discipline, to further reduce our operating expenses and also to be responsible, to ensure political stability, because these are not ingredients that were invented in Romania, they are standard measures that are taken by countries that have reached Romania's situation," said the prime minister.Bolojan mentioned that when the issue of forming the Government arose, he analyzed over 15 countries that have gone through Romania's situation and they took combined measures of increasing revenues, decreasing expenses and phasing out some investments."We had all three complicated problems superimposed, because we have much lower incomes as a share of the gross domestic product than the average of European countries. So, European countries are somewhere around 40%, we are a little over 30%. We have expenses, in general, higher than European countries and we have contracted much higher investments as a share of GDP than European countries. Now, with all three factors, you can't correct things from one day to the next and, therefore, during this period, we were effectively put in the situation, in order to maintain Romania's finances in a somewhat stable situation and in order not to enter a form of insolvency, to take these measures", explained Ilie Bolojan.He also said that, from now on, taxes should not be increased. "We need to control our expenses and reduce where we are obviously wasting money or where it is not justified to continue allocating money," Bolojan said. (Photo:https://gov.ro/)