Romania could backslide into recession anytime warns PM

Romania is still in danger of backsliding into recession and the only way to prevent this from happening is to continue reforms, to cut spending and to invest into relevant projects, said Prime Minister Emil Boc on Tuesday.

“The danger of backsliding into recession in 2012 is more and more often mentioned at EU level. I say that the threat is still there and it could happen anytime. To avoid this, the only alternative is to continue reforms, to spend only as much as we produce and direct the money we receive as loans, towards investments” stated Boc, according to Mediafax newswire.

The PM also stressed the danger of populist policies and added that next year, the government will not make use of such measures.

Boc also said that Romania will be able to meet the 3 percent budget deficit target, this including the losses of state owned companies.

Simona Bazavan

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