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What the newspapers say: September 30, 2010 

de A.C.     HotNews.ro
Joi, 30 septembrie 2010, 8:46 English | Press Review

On paper, Romania's budget is well but the real economy reveals something else, one newspaper reads on Thursday. Elsewhere in the news, after ten years, the state finally gets something out of Rompetrol, the biggest oil company in Romania: minority shares in exchange of the debt worth 570 million euro it was entitled to receive. Last but not least, the Council of Europe demands a concrete summit on issues related to gypsies.
 
The measures taken by the government to balance the state's budget affect economic recovery, economists claim quoted by Gandul. The first example is the VAT increase which brings a lot of money to the state but reduces consumption. 

In July and August the government managed, through the VAT increase and salary cuts for budgetary personnel to balance public finances. However, the fact that the government has even more chances to make the 6.4% budgetary deficit target does not necessarily mean that the economy will get well. 

On the contrary, economists quoted by the newspaper claim.  In the first eight months of this year, state's revenues increased by 2.9% compared to the similar period in 2009. Revenues from the new VAT value increased by 31% up to 6.85 billion lei in July and August, compared to the same months, last year. 

Economic growth can only come from two sources: exports or internal consumption. Because the government's measures inhibited both trough austerity measures, Romania will not face economic growth to soon. 

Evenimentul Zilei reads that finally, after years the Romanian state gets something out of Rompetrol, the biggest oil producing company in Romania who has state debts worth 570 million euro. 

Rompetrol was previously owned by renowned businessman Dinu Patriciu who managed to postpone the company's debts to the state in 2003 with 7 years. Now controlled by KazMunaiGaz, the state is offered a minority share pack. 

However, the state has no guarantee when it will get its money back and Rompetrol registered more and more losses lately. For now, the state does not have a strategy for the case, despite explanations requested by the newspaper. 

Romania libera reads that the President and the Secretary General of the Ministers Council within the Council of Europe addressed an invitation to 47 countries, to EU members and international organizations for a summit at Strasbourg called on October 20 on the Rroma issue.  

The reunion should be a starting point for a common effort from European institutions and EU member countries to see this situation from a constructive and sustainable point of view. The appeal of the Council of Europe follows a debate within the EU regarding the Rroma situation, after France's aggressive campaign against gypsies in France. 



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