Romanian President Optimistic About Country’s Economic Outlook

Romanian President Traian Basescu said on public television late Wednesday he is optimistic about the country’s economic outlook adding Romania has avoided derailments and is on its way to recovery.

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"I'm optimistic about Romania's future development," the president said.

Basescu added Romania has EU money at its disposal that it can pump into development and authority will find the necessary resources to cover the budget deficit.

"We have money for development - European money. We'll find resources to cover the budget deficit too. It's not good that we're still borrowing money for consumption and we'll have to borrow next year too to pay part of wages, pensions and social aid. But Romania is on the road to recovery and we won't end up like the countries that have derailed," Basescu said.

He added fiscal consolidation is a major goal for 2011.

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