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Jeffrey Franks (IMF) is optimistic: the austerity measures will help Romania substantially

de A.C.
Marţi, 25 mai 2010, 11:41 English | Business

IMF Romania chief of mission, Jeffrey Franks is optimistic that the government will manage to implement the measures needed to cut budgetary spending, assumed with the financial institution, and said that he never say President Basescu and PM Boc so eager to action.

I see that they are very committed to resolve the situation, Franks declared for the Romanian news agency Mediafax and mentioned that he trusts the government to take the program further. According to the IMF representative, the measures assumed by the government to cut budgetary spending will be enough to close the gap in the budgetary system.

Our data suggest that if the government implement the measures (a 25% cut of salaries, a 15% cut of pensions) this will be enough to close the gap and will counter uncertainty in the business sector.

A delegation from the international financial institutions was in Bucharest for the fourth evaluation of the economic program assumed by the government.

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