Romanian Cos Hit Harder By Crisis Than Public Sector - Fin Min

"We are determined to correct this asymmetry between the private and public sectors. In all honesty and fairness, the private sector was the one to suffer during this difficult period," Pogea said during the Central European Initiative Summit Economic Forum in Bucharest.

"They (Romanian businessmen - e.n.) deserve congratulations for having sacrificed profit margins (…) to keep their staff in place," Pogea also said.

Romania's economy will see a gradual recovery, but the reforms launched by the government must continue, even if some of them are not that popular.

"The crisis demands reforms and it may be for the first time that the crisis is actually a flat mirror. Two years ago, we enjoyed looking at ourselves in convex mirrors. We were skinny, but we liked to think we were fat," Pogea said.

Pogea mentioned the fiscal responsibility law, one of the bills Romania must adopt under the EUR13 billion loan agreement signed with the International Monetary Fund, will be debated by the government shortly.

The law addresses foremost to the private business environment, Pogea said.

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