Fin Crisis May Represent An Opportunity To Launch Reform Process - Romanian PM

The financial crisis may represent for Romania an opportunity to develop a process of economic reform, which has been delayed for 20 years, and to regulate certain issues, such as state salaries, the pensions system, and the decentralization, Romanian Prime Minister Emil Boc stated Wednesday.

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During a speech at the Central & Southeast European Financial Forum, Boc said that the lack of funds saved for “difficult times” and the keeping of the flat tax at one of the lowest levels in EU triggered the need to identify complementary solutions to overcome the financial crisis, such as massive public investments in the economy, the cut of certain budget expenses, the loan agreement with the IMF and EC, and the granting of state aids and guarantees in strategic sectors such as agriculture, energy, constructions, and tourism.

The PM said that a strengthening of the financial control mechanism worldwide could represent a solution to overcome the crisis, and reminded that the EU representatives are working on a new regulation and surveillance plan in this sector.

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