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Central Bank Governor Mugur Isarescu: the money the government cuts from salaries amount to 3 million euro / a lot less than the taxes paid by the Central Bank in a bad month 

de A.C
Joi, 15 iulie 2010, 14:20 English | Top News

Central Bank governor Mugur Isarescu attacked those who disucssed the use of the Central Bank reserves in other purposes than the legal ones: If the reserve would decrease, we would be obliged to pay debts faster and the state could not get loans, Isarescu said. Public debates should have the laws at the basis. Political parties should have better specialists in mathematics, Isarescu said. 

A country can attract more money if it has such reserves as Romania does. Romania's foreign currency reserve is formed by 62.9% of euro, 29.43% dollars and 7.67% other currency. We did not oppose to the VAT increase to gain a positive image, but we did it to avoid the effects of the inflation. 

Last year, we gave to the state budget 300 million euro. The Central Bank does not pay taxes but a sort of contribution on profit, which is about 25 million euro/month. The 25 million means over 150,000 average pensions. 

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