The Government will not be able to operate a budgetary adjustment in July or August as it hopes to, if Parliament, which goes into recess next week, does not speed up the appointment of the Tax Council members. According to the Fiscal Responsibility Law, the Council is required to state its views on such an action.

The Chamber of Deputies yesterday enacted article by article the law draft enabling the Government to issue ordinances throughout the parliamentary recess, which allows the Government to operate a budgetary adjustment. The Cabinet, however, will not be able to do so, unless the Parliament moves fast and appoints the five members of the Tax Council, which should come from the NBR, the Romanian Banking Association (ARB), the Romanian Banking Institute (IBR), the Academy of Economic Studies and the Romanian Academy.

The leaders of the two chambers should meet today to look into the matter, given that the deadlines have not been met. The Fiscal Responsibility Law that introduces this Tax Council (set to supervise the Government's economic policies) was promulgated on April 16. Parliament was supposed to appoint the members of the Council within 45 days, which was well over three weeks ago.

The institutions that were supposed to send representatives to the Tax Council have not hurried to make suggestions, and neither the Government nor Parliament has pressured them to do it. The nominations of the five institutions had not reached the Senate or the Chamber of Deputies, either, by yesterday, said Ion Ariton, head of the Finance Committee of the Senate and Ioan Olteanu, member of the Permanent Bureau of the Chamber.

The Government will not be able to operate a budgetary adjustment in July or August as it hopes to, if Parliament, which goes into recess next week, does not speed up the appointment of the Tax Council members. According t