President Traian Basescu: Romania To Return To Economic Growth In 2Q 2010

Romanian President Traian Basescu said Saturday, within a meeting with businesspeople in western city of Timisoara, that Romania might return to economic growth in the second quarter of 2010, according to the central bank’s evaluations and forecasts.

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Basescu also said the country's Finance Ministry already took fiscal measures meant to revive the country's economy.

"The tax-free reinvested profit is a mechanism that will ensure economic growth for small enterprises in 2010. Other measures meant to revive the country's economy include the "First Home" program and the reduction of taxes and fees. Moreover, 145 taxes and fees have been annulled so far, while the "First Home" program benefits from guarantees worth EUR170 million," Basescu said.

Basescu on Saturday met with local mayors in Timis county and the heads of local decentralized services, at the Administrative Palace in Timisoara.

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