Basescu told a news conference Sunday he will not sign the budget bill into law and will send it back to lawmakers if the planned raise in fuel excises is not eliminated. He added he might also contest the budget bill at the Constitution Court.
The president said the planned excise hike would have an impact on the entire economy and any wage rise would be “swallowed” by price hikes. He added inflation will reach 3.5%-3.6% next year.