Boc Cabinet cuts red tape of a motorway made with borrowed money. Elsewhere in the news, 2010 will be the year of price increases in Romania. Last but not least, The Romanian Government starts state jobs redundancies with Education.
Boc Cabinet cuts red tape of a motorway made with borrowed money, Gandul reads. In 2010, Romania will have to pay interest rates worth of 2.5 billion euros, more than the entire Transport Minister budget. The Executive will tackle the crisis the same way it did last year: by borrowing money to cover the difference between low budget incomes and budget spending. The latter is similar to the 2008 value, when Romania went through a record economic growth.
Romanian public debt exploded in 2009 by 14 billion euros, counting around 40 bln euros at the moment, the newspaper goes on. In the first 2010 quarter, the Finance Ministry will announce the borrowing of 2.8 billion euros from banks, namely 32 million euros a day (including weekends and legal holidays). The minimum credit taken from banks will be 12.5 billion euros, out of which 6 billions will be used to extend older credits (this will not add up to he public debt), the publication estimates.
Four billion euros will be spent on the budget deficit, at least 2.5 billion euros will be used to pay up interest rates and two billions will go to the Transport Ministry's budget. The biggest problem will be finding banks available to loan money to the Romanian state. Analysts say that many important banks activating in Romania have reached the maximum lending sum in their relationship with the Romanian state.
2010 will be the year of price increases, Adevarul informs. The taxes target not only vices, but also some basic food and bakery products. The beginning of the year brings an average 15% increase in duties and taxes. In 2010, these will be calcula
