Prime Minister Victor Ponta in Giurgiu (southern Romania) on Wednesday said that Romania’s adopting the euro currency in 2019 was an ambitious, but feasible objective, showing that the Romanian economy should be capable to face the competition in the Eurozone, meaning the fulfillment of all convergence criteria.
Photo credit: (c) LIVIU SOVA / AGERPRES FOTO
‘Compared with last year, we fulfilled all nominal, not real, convergence criteria. I am very aware of this thing, beyond the economic growth, we have the inflation reduction, we have the public debt, therefore we fulfill the nominal convergence criteria, but we still haven’t fulfilled the real ones, namely having an economy capable to face the competition in the Eurozone. But we must establish a very clear objective and 2019 is an ambitious objective, but it is a feasible objective, because in 2019 [Romania] will hold the EU presidency and I believe it is natural that we should be in the Eurozone by that time and our accession to the Eurozone will represent the clearest sign that the Romanian economy is competitive and can face all challenges to come,’ the Prime Minister said.
Moreover, he mentioned that the tax exemption for the reinvested profit was already adopted and was going to come into force, the norms going to be released in maximum two weeks’ time, and the up to 5 per cent reduction in the social security contribution for employers was the first project the Government had on the discussion agenda with the International Monetary Fund, the European Commission and the World Bank.
‘The fact that in April we had a surplus in the collection calendar makes me feel optimistic, because those with the IMF say they do not agree with any measure of reducing taxation without a surplus in the collections, and the fact that in April, as well as in the first four months of the year, we have budget revenues, and in addition the fee on special construction will also go to the budget in May, therefore it means we have some arguments,’ the Prime Minister also said.
The objective of adopting the single European currency in 2018-2019 is not unrealistic, but it needs a powerful political consensus and the consequence assessment, mainly of those consequences related with the price alignment, National Bank of Romania (BNR) Governor Mugur Isarescu said on Tuesday, May 6. AGERPRES
