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Basescu: Romania’s economic structure lags behind

Publicat la 24.09.2008, 21:00:00

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Basescu: Romania’s economic structure lags behind

Basescu added that he would collaborate with any government “that is not dependent on oligarchy or group interests, and uses economic growth for investments” instead of for “political interests.”

The president’s speech comes two months ahead of general elections scheduled for November 30th, that are to be followed by the appointment of a new government.

The current Prime Minister, Liberal Calin Popescu Tariceanu, last week presented a report on his four-year term, indicating that 95 percent of the government’s commitments had been achieved. In response, Basescu yesterday stressed that there are several problems with the local system, and that new democratic governing goals must be set.

“We have major reasons to be concerned regarding the euro-zone accession time-table, namely the application of certain fiscal and budget measures that are not supporting a restrictive monetary policy and increase the risk of macroeconomic sidesteps,” Basescu said. He also mentioned the risks of budget deficit widening, an overheating of the economy, high current spending, and salary growth exceeding labor productivity.

Basescu and Tariceanu became political foes in the past few years, after having won the 2004 elections as a team.

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