I guarantee that in two years time Romania will have 700 km of highways, Romania's President, Traian Basescu declared on Wednesday night, at Antena 3. Basescu added that in Romania, one km of highway should cost with 30% less than it currently does and criticized that EU funds destined for highways are not used.

Basescu declared that in January he was convinced that Romania would not need a foreign loan but on January 12 he informed the Commission that, most probably, Romania will need a foreign loan. The reality of the financial commitment is called prudence, Basescu explained. He added that all revised estimates show that January estimates were too optimistic. International estimates indicate that the situation is getting worse, every month.

Romania decided to take up a foreign loan because it cannot foresee how the economy will evolve, Basescu said. We cannot compensate the lack of foreign direct investments, he explained. Moreover, he assured that Romania will spend just as much as it will need to sustain the economy out of the loans it will take up.

Basescu said that the IMF will have to take an anti-economic stand to demand increases of VAT or in the fiscal policy. He underlined that he is not interested in the presidential campaign and that his main priority at the moment is to find sound solutions for a tough situation. I guarantee that in two years time Romania will have 700 km of highways, Romania's President, Traian Basescu declared on Wednesday night, at Antena 3. Basescu added that in Romania, one km of highway should cost with 30% less than it currently does and criticized that EU funds destined for highways are not used.

Basescu declared that in January he was convinced that Romania would not need a foreign loan but on January 12 he informed the Commission that, most probably, Romania will need a foreign