Budget Spending Reaches Absurd Levels – Businessmen Assoc Head

AOAR representatives and the IMF mission to Bucharest met Tuesday for talks.

AOAR secretary general Cristian Parvan said before the meeting that the talks with the IMF would focus on the evolution of the economy in the second half of the year and in 2010, adding that the effects of any measure adopted this year will show in 2010.

Parvan added that the association would also support budget spending cuts, not just staff cuts, but also the need for higher revenue.

AOAR also proposes the increase of loans guarantee threshold from EUR1.5 billion to EUR2-2.5 billion.

Parvan agreed that the deficiencies in Salary Law should be corrected, adding that there are significant differences between the high salaries in budget structures.

The AOAR representative added that euro adoption remains one of the main objectives, but that would require a multiannual budget, and the adoption of the salary law regulating wages across the publuic sector.