President Traian Băsescu was undecided yesterday as to whenRomania will step out of recession: he talked about the firstquarter, the first half and the second half of 2011.
President Băsescu yesterday talked about his conviction that theexit from the recession would occur in 2011, but over the course ofthe conference he generated confusion as to when exactly theeconomy would go into positive territory: the first quarter, thefirst half or the second half of the year.
"We will step out of recession in the first quarter of 2011, in thefirst half. My conviction is that we will see growth in the secondquarter of next year," the President yesterday told a newsconference at the Cotroceni Palace.
This time last year, both President Băsescu and Premier Boc saidthe same thing about this year, but ultimately the government hadto resort to extreme measures - cutting salaries and raising VAT -because budget revenues did not meet forecasts.
Asked by Ziarul Financiar who would be responsible if the samehappened in 2011, he said:
"Political responsibility lies with all of us who did not foreseethe crisis and who did not take measures in due course. At thebeginning of 2009 we built the budget on a rise, but we saw adecline. I am trying to be realistic, but no one can say forcertain whether there will be an increase or a decline next year.Any budget is an estimate, budget execution is a different matter,"Băsescu said.
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