Romanian Govt Has Money For Budget Def, Doesn't Know It - Ex PM

Romania’s former prime minister Calin Tariceanu said Thursday the country’s National Fund for Development has 11 billion lei (EUR1= RON4.2314), which would enable the Executive to cover the funding deficit, adding there is enough money if the Government knew how to look for it and use it.

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“I want to draw the attention to the current Government, which seems to be in the dark regarding Romanian realities, that there is a National Fund for Development which was set up in 2007, which contains money from privatizations. The fund contains currently RON11 billion, which enables the Government to cover the funding deficit, strictly the investment projects and not their campaign promises, salaries and other fireworks,” Tariceanu said.

The liberal leader said the Government led by Emil Boc has money at its disposal, but does not know where to find it and how to use it.

He added the country’s foreign currency reserves at the central bank reached EUR28 billion at the end of 2008, compared to EUR11.9 billion in 2004.

“When the new Government came, it had at its disposal EUR500 million in the treasury of the Finance Ministry, which enabled it to cover all expenses by the end of the year,” Tariceanu said.

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