According to the head of state, Romania will continue to support investments.
“Concerning the 2012 budget, we will continue the policy applied in 2011, namely reducing state spending, cutting unjustified welfare expenses (…) as well as increasing state investments,” said Basescu.
The president said, citing Eurostat data, that Romania allotted 5.9% of its gross domestic product to investments in 2010.
“We will continue this policy in 2011, as it has proven right,” said Basescu. He added that allotting a significant share of state budget resources to investments is a step towards economic growth, keeping jobs and even creating new ones.
The head of state also pointed out that the state budget for 2012 aims to step up the process reducing Romania’s dependence on foreign loans.
Romania aims to reduce its budget deficit from 4.4% this year to 1.9% next year, said Basescu. “This objective seems difficult to achieve, considering economic growth estimations were cautious, of only 1.5% next year. While structural fund absorption should rise to about EUR1-1.5 billion in 2011, the state budget for next year planned a EUR6 billion fund absorption, even if skeptical minds see it at EUR4 billion.”
“Our objective is six billion, which will be attracted,” said Basescu.