PSD's Ciolacu, on Government ordinance: It's not about savings, but about directing money

Social Democratic Party (PSD) leader Marcel Ciolacu said on Tuesday that the emergency ordinance to be issued by the Government is not about savings, but about directing the money and that it is normal for the Executive to try to allocate more to investments.

"The figures and all the rating houses and all the information we have from the international financial authorities show us that for the first time in 30 years in Romania there is economic growth in terms of investments and not consumption and then it is normal for the Government to try to allocate more money to investments. (... ) At the moment there is a reduction in consumption, which naturally brings less money to the state budget, but it is not an alarming situation from a macroeconomic point of view, for it to be an economic problem," Ciolacu said at the Palace of Parliament, when asked what he thinks about the ordinance that the Government has initiated to save money at the state budget.

Ciolacu added that there is not a 20 billion RON hole in the state budget.

"From what the IMF, the World Bank, have communicated, Romania has an estimated economic growth well above other countries in the European Union, I repeat, based on investments. This ordinance is, in fact, an ordinance of prudence, as prime minister Ciuca said," Marcel Ciolacu went on to say.