The Governernment has 2 billion euros left for spending in thelast month of the year, after the deficit went up to 5.2% of GDPeleven months into the year, 1.6% below the 6.8% target agreed uponwith the IMF.
Beyond the question why the need to cut wages if the Governmenthas 2 billion euros left in December, another one comes up: howwill this money be spent, since experience shows that the "giftgiving month" is a month of governmental squandering?
In recent years, the spending of every government doubled in thelast month of the year compared with the average of the previousmonths, with local authorities usually to blame for it. Will ithappen again in 2010? Finance Minister Gheorghe Ialomiţianu hopesit will not. The chairman of the Businesspeople Association ofRomania Florin Pogonaru feels "the surplus" should go towardspayment of the state's arrears to private companies, but has hisdoubts about it actually happening.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
