Romanian PM Wants Govt Resources Directed Mainly To Quick Investments

Romanian Prime Minister Emil Boc asked the ministers to prioritize investment projects that can be implemented quickly and that have a multiplier effect, in order for the gross domestic product to grow by 1.5% this year, the target agreed upon with the IMF and European Commission.

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Boc said the Government spent EUR800 million on investments in the first six months of 2011, compared to the same period of 2010.

The Government's objective for quarters three and four, he said, is to get the maximum output of the investments into the economy. This entails: prioritizing projects that can be completed sooner, so as not to spend too much on their maintenance; implementing investments that have a multiplier effect in the economy, generating jobs and tax revenue; taking advantage of the good farming year.

These steps, plus continued absorption of EU funds, are sure to enable Romania to meet its goal for GDP growth, said Boc.

He pointed out that National Statistics Institute data, which reveal the economy's growth has slowed down, means the Government "can take no false steps."

"The watchword remains caution, moderation and balance, rejecting any populist temptations," said Boc.

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