Speaking at a conference organized by Ziarul Financiar, Tomas Spurny said the authorities should invest more on infrastructure, even at the cost of increasing the level of the public debt.
“If I were a Romanian politician, I would state this publicly: we have to raise the debt level at 60% of the gross domestic product as soon as possible, while pledging to build thousands of kilometers of highway and offer water and sewage services in the country. However, someone should tell me upfront that these austerity policies would stop,” Spurny said.
BCR’s chief said Romania remains the best choice in Europe in terms of labor costs and taxation. Moreover, the country is currently able to borrow money at the same costs as Italy, which is an “incredible and important achievement.”
The authorities in Bucharest should seize the opportunity and borrow more money to finance investments, Spurny said.