The state's arrears to companies continued to rise in the firstquarter of the year, but Finance Minister Sebastian Vladescu givesassurances the VAT will not be increased and says talks with theIMF target the expansion of the tax base and public sectorrestructuring.
Vladescu admits talks with the IMF are complicated, but says thearrangement sealed with the international institution is not indanger of being suspended.
On Friday he had the first talks at the Ministry with JeffreyFranks, chief of the IMF mission that reviews the stand-byarrangement with Romania, as well as with representatives of theEuropean Commission and of the World Bank.
"VAT will not be increased," said Vladescu, asked at the end of themeeting whether raising this tax was being discussed or not.
Although arrears of the general budget should have been on adownward trend, they continued to rise this year, reaching 1.6-1.7billion RON in the first quarter of the year, according to theminister. The Government has not in fact managed to meet any of thequarterly targets agreed with the IMF since the beginning of thearrangement as far as arrears are concerned, and has repeatedlyrequested waivers.
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