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| The First 100 days of the Ponta Cabinet |
| (2012-08-20) |
| Last updated: 2012-08-24 14:12 EET |
 The Social Liberal Union cabinet has completed 100 days in office. On his personal blog, Social Democrat leader Prime Minister Victor Ponta drew a preliminary governance report. He promised to submit a full report before the parliamentary elections in autumn, which are expected to validate or invalidate the activity of the current cabinet.
Ponta believes that the main achievement of his first 100 days in office was putting an end to what he called “the politically organized theft at Hidroelectrica company” and solving problems related to the “organized crime network at the National Fiscal Administration Agency”. As regards the country’s greatest electricity producer, currently owned by the state, Ponta claims that declaring it bankrupt allowed for the loss-producing contracts to be denounced.
The contracts had been signed with companies that bought power at very favorable prices and inflicted damage worth more than one billion lei for Hidroelectrica. As for the activity of the National Fiscal Administration Agency, Ponta claims that the dismantling of the former management, politically subordinated to the Liberal Democratic Party in opposition, has allegedly generated budget revenues of almost 300 million Euros in the 2nd quarter of this year.
Former Liberal-Democrat Prime Minister Emil Boc retorted by recalling the escalating depreciation of the national currency, the Leu, and the rise in gas prices home users. In Emil Boc’s view, these factors, as well as the country’s marred image abroad, should tone down Ponta’s enthusiasm. The 100-day round-up of the Ponta cabinet includes a timid economic growth of 0.5%, the first after 2 successive quarters of decline, as well as some measures agreed on by the IMF and other loan-giving international bodies, aimed at re-launching the economy.
Measures include the VAT payment on invoice cashing-in, which will come into force next year, as well as tax exemptions for companies that hire young people. What the cabinet has failed to do, however, was convince the IMF that the reduction of the VAT on foodstuffs and the introduction of a progressive taxing system, with taxes lower than the current 16% flat tax, will not upset the budget.
Although Prime Minister Ponta does not make reference to the conflict between his alliance and the Liberal Democratic Party led by president Traian Basescu, this is unarguably the political factor that has dominated the stage during the cabinet’s first 100 days. The conflict has led to the impeachment of president Basescu in Parliament and threatens to continue, irrespective of the Constitutional Court’s decision regarding the validation or invalidation of the related referendum.
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