* Update 14:01 Ponta and Băsescu meeting today at 17:00
The meeting between president Traian Băsescu and Prime-Minister Victor Ponta, on the issue of the state budget and the memorandum with the IMF, requested by the prime-minister, could take place today at 17:00 hours, according to sources from the press.
--
President Traian Băsescu has decided not to approve the memorandum sent by the Government approving the negotiations with the IMF, due to the hike of the fuel excise.
He said yesterday: "I will not endorse this anti-economic measure, which goes against Romania's interest and of the chances of the economy for a turnaround. The government can endorse it without my signature, but I won't sign an increase of the excises for fuel". The president announced has already informed the International Monetary Fund about his position.
Thus, the discussion on the board of the IMF of the letter of intent and of the memorandum of economic policies concluded with the Romanian authorities, programmed for December, will be postponed because the documents must also be signed by the president of the country.
The president said: "I do not want measures that would put a damper on the economic turnaround, and the money that would be raised from that additional excise, by putting 7 cents in the letter, in reality would be 12 cents, when you add VAT to it, the inflation of 2012 and the exchange rate. It will amount to 52 bani at the pump for Diesel fuel and 53 for gas, meaning an 8% hike in the price of fuel. Its effects - the increase of prices, an additional hike of inflation, many SMEs and transport companies going insolvent of bankrupt and those who will be affected the worst will be precisely the ones the government claims it is trying to help. This price increase will affect the pensions more than the 3.75% hike that the law requires them to m
