Finance Minister Adrian Caciu said that Romania has the most stable economy in the region and this year ends with growth that will exceed 5%, and 2023 will be a year of reforms, investment and support for vulnerable categories, News.ro quotes.

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“Dear Romanians, in the most economically difficult year since the Second World War, let me thank you for the solidarity, trust and understanding you have shown during this period, which has greatly affected (at least in terms of high inflation) not only the national social- economic environment, but also the entire European Union and the world economy. In difficult times, solutions are built on seven pillars: courage, intelligence, stability, security, protection, solidarity and support. This is what we did, this is what we will do! Many times I kept quiet and did it! Because Romania is tired of talking! Romania has, had and will need facts! The partnership we built with the socio-economic environment proved the difference between talking and doing! Apart from the anxiety caused by the consequences of Russian aggression in Ukraine, we have gone through trials together this year, trials that have not been easy at all,” wrote Adrian Cachiu on Facebook on Saturday.

He also reviewed the economic results of this year.

“More than 80% of you participated in this work, regardless of political likes or dislikes, and the results are clear:

1. We are one of the most important providers of regional and European security. I will not describe in detail the costs or the elements of the effort, they are necessary to achieve this goal, but I can say, moreover, that the decision of the last JAI Council causes disappointment and a sense of injustice among all, especially in the context that solidarity and unity should be the key to the solution current problems.

2. We have the most stable economy in the region (in a context where financial markets have shown volatility not seen since the 2008 crisis), and we close 2022 with economic growth exceeding 5%, and an effective response of the economy and the Government to cost pressures as manifested by inflation and interest. We managed to restore economic potential and stabilize the economy. Romania’s economy produces 214 billion lei more than in 2021. This is a big plus, €44 billion, and 2022 will be the year when the number of newly registered companies will exceed the 150,000 threshold, while the number of insolvent ones will remain. far from highs, approaching 12-year lows.

3. We have political stability. A difficult year, tested by inevitable upheavals due to the doctrinal differences of the ruling coalition, passed brilliantly, because reason and responsibility to Romanians were and are more important. This, in fact, is the role of the political class, especially in difficult situations, to remember that they represent Romanians and that the main duty of politicians is to protect their citizens and homeland.

4. We have a strong partnership between the Government and the socio-economic environment. This partnership formed the basis of most of the measures taken for Romania. Government efforts achieved on the basis of this partnership exceeded 10.7% of GDP, 149 billion lei (6% of direct support to the economy and citizens, respectively 83.8 billion lei in nominal terms and 4.7% of indirect support through tax credits, respectively 65 .2 billion lei in nominal terms) and was consolidated by entrepreneurial efforts, which manifested in the consolidation of economic activity, an increase in gross value added and employment. I would like to conclude this short assessment by saying that the efforts made were necessary, they are at a very good level, but they were centered around the principles of stabilization and compensation, taking into account the extremely reduced fiscal space as a result of the deviations of previous policies that created huge deficits , which are difficult to overcome, creating additional pressure in a clearly negative context,” Cachiu noted.

Minister Kachiu: “2023 will be the year of reforms, investments and support for vulnerable categories”

Also, the Minister of Finance presented his and the Government’s plans for the next year, which will be based on reform actions, investments and support for vulnerable categories of the population.

“What will 2023 be like? A year that is built on the same elements of support, trust, solidarity, balance and stability. A difficult year, still marked by inflationary pressures (even if inflation enters the zone of moderation and even declines – but this still requires a continuous struggle that will manifest itself throughout 2023), difficult from an economic point of view and marked by a noticeable slowdown strong economies, which will also affect developing economies such as Romania, a year in which the difference will be made by maximizing the use of public policy instruments aimed at three levels: reforms, investment and support for vulnerable categories,” explained PSD Minister.

He also said that “Government efforts established through fiscal policy measures will exceed 14.7% of GDP (228 billion lei), of which the tax credit (indirect channel) is 4.9% of GDP, and measures on the economy and protection of vulnerable categories of the population is 9.8% of GDP”.

“It will be one of the investments, with a bold program of 7.2% of GDP (112 billion lei) and government programs designed for the economy. We must invest massively in Romanian companies so that our economy is focused on the production of goods with high added value! It is important to reduce dependence on global and regional supply chains! Only by putting economic productivity first, focusing on domestic production, can we hope that the Romania of the future will no longer be based on a consumer economy. We need continuous reforms in education, health care, economy and governance, poverty in all its forms must be reduced, and the emphasis must be placed on the most important element of a nation’s capital: human capital,” Cachiu added.

He also noted the continuation of reforms in the social insurance system, solving the problem of wage inequality, increasing competitiveness and countering inflation.

“We have yet to move forward with a number of reforms, including: reforming the social insurance system, addressing wage inequality, increasing competitiveness and revitalizing exports, countering rising inflation, and many others. And I think most importantly, in the short term, given the context, we have to think and act to protect the vulnerable. All these measures, which aim to offset rising inflation, protect jobs and help Romanian companies survive this difficult period, are priorities for the Romanian government. All this will be done together! That is why I am convinced that with solidarity and compassion for the disadvantaged and, above all, with the support of all workers and companies that produce in Romania through support programs, we will be able to overcome this difficult period. Finally, in addition to thanking you again, I wish you a great 2023 and many achievements, and I encourage you to look to the future with confidence and solidarity! We do it together! Happy birthday!” Adrian Cachiu concluded.