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What the newspapers say: September 18, 2007

de Radu Rizea     HotNews.ro
Joi, 18 septembrie 2008, 8:50 English | Press Review

The Government once again sees a pink future and a shiny present. Some analysts do not agree and point at the Tariceanu Cabinet as a right-wing party with a left-wing attitude. Meanwhile, the Consumers' Protection authorities warn that banks may deliberately lie to their clients, offering low interest rates, but with huge commissions. Romanians are not really interested, a thing noted by commercial complexes developers, who will triple the commercial area per capita in less than a year.

"We fulfilled 95% of our commitments", said Prime Minister Calin Popescu Tariceanu on Wednesday, pointing at the pensions' and salaries' growth and the economic growth. analysts reply with the lack of investments in infrastructure, the lack of structural reforms and the poor energy policy. The 16% flat tax is seen indeed as an achievement, but most newspapers note that the taxation was Liberal during the mandate, but the budgetary spending was Social-Democrat. Even more, teachers are quite upset with the pace of salaries growth, claiming that the 9% increase this year is far from ensuring a decent living.

Romania Libera also lists the vulnerabilities that are still visible in the Romanian economy: the volatility of the Romanian national currency, RON, the dropping of stock-exchange listed shares and - the most important - the huge current account deficit. The newspaper estimates that the international financial crisis may end next summer and reminds that Romania is still one of the most attractive investments destination.

Meanwhile, the Government will make a supplementary effort of 1,370 million RON (some 375 million euro) to increase pensions in October, instead of November. In August, the Labor Minister declared that pensions can not grow in October without affecting the Health Care and Education, Gandul reads.

Another important, yet useless spending is noted by Cotidianul: the Romanian state expropriated some 46 hectares, paying 9.16 million RON (some 2.7 million euro) for the construction of the Bechtel highway, but the investment was useless, since Bechtel had already modified the highway line. Some projects were modified up to four times, since the contract with Bechtel allows the company to make as many one-sided changes as it desires, Cotidianul reads.

It seems though that spending is a national sport. Romanians currently have 910,000 square meters of commercial centers, but the amount will grow with other 1.8 millions in 2009. each Romanian will have 127 square meters of commercial space for himself / herself in one year, Evenimentul Zilei counts.

But the shopping money is a problem, since many Romanians address banks for personal needs loans. The National Authority for Consumers Protection warns that banks may knowingly offer false information to clients. For example, credits with 0% interest have 18% - 20% commissions, while credits with a 4% interest may have a 16% commission, Jurnalul National reads.






















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