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| 2012, a Prudent Year for the Romanian Economy |
| (2011-12-20) |
| Last updated: 2011-12-21 13:55 EET |
The evolution of the Romanian economy against the backdrop of turbulence at EU level continues to top the agenda of the ruling coalition. Attending the Jubilee Gala of the National Association of Exporters and Importers in Romania, president Traian Basescu spoke about Romania’s trade balance; he said Romania would renew its efforts to join the Eurozone by 2015.
The head of state added Romania needed to branch out its markets to boost exports, which at present are mainly targeting the EU.
Traian Basescu: “Look at the market in China or Turkey, for instance. Our companies have the capability to export to those markets. The Arab and African markets are slightly unsettled at present, but those two markets should be a priority, because I have repeatedly insisted we should not put all our eggs on one basket, the basket being the EU. If we diversify our exports we might be able to redress our balance of foreign payments, which is a higher priority than keeping the budget deficit in check”.
As regards Romania’s bid to join the Eurozone, which has been so far unable to break the grip of the debt crisis, president Basescu said Romania should maintain that objective for 2015.
Traian Basescu: “I don’t want people to think of me as an idealist who rules out the possibility we might not be ready to join the Eurozone by 2015. But if we postponed the accession to 2020, what then? We would no longer have any performance objectives. Conversely, I believe we should ready ourselves to join the Eurozone by 2015. It’s true it might take another year to cope with the challenge, but we have no reason to abandon that objective”.
Prime Minister Emil Boc has confirmed the economic stability of the country ranks high on the government’s agenda for 2012, a year undoubtedly marked by budget prudence. Prime Minister Emil Boc estimated an economic growth of 2.1%, provided that the inflation and unemployment rates are maintained and that the euro-leu exchange rate should see no serious fluctuations. Prime Minister Boc added the government would maintain the austerity measures in 2012 as well.
However, Boc gave assurances no further measures would be introduced, such as salary or pension slashes. Should this scenario fail and should the country go through a tough time in 2012, the Prime Minister said the government had a last-resort measure already in place: the precautionary agreement Romania signed with the IMF and the European Commission, allowing Romania to access additional external funds.
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2025-04-03
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