Romanian Parliament’s expert committee endorses new Fiscal Council members

The expert committees of the senators and the deputies unanimously gave a positive review to the five candidates for the Fiscal Council: Daniel Dăianu, George Georgescu, Bogdan-Octavian Cozmâncă, Georgiana Camelia Creţan and Sebastian Bogdan Căpraru, Profit.ro reported.

The members of the Fiscal Council are appointed for nine-year mandates and the Council is supposed to monitor and endorse the fiscal policies in line with the fiscal budgetary responsibility law 69/2010. The president of the Fiscal Council will be nominated by the five, from among them.

The former president of the Council was Ionut Dumitru, chief economist of Raiffeisen Bank, who will hold in the future a position in the Board of Directors of the National Bank of Romania. Notably, two of the five new members of the Fiscal Council come from the central bank: Daniel Daianu (former member in the Board of Directors) and Bogdan-Octavian Cozmâncă (senior economist at BNR in the Macroeconomic Modeling and Forecasting Department).

One representative of the Academy (George Georgescu, researcher at National Institute of Economic Research) and two academics (Georgiana Camelia Cretan, from the Academy of Economic Studies and Sebastian Bogdan Căpraru, proposed by the Romanian Association of Banks, also teaching at Al. I Cuza University in Iasi) are the other members of the Council.

Judging from the seniority, Daianu (backed by the opposition liberal party PNL) is the most likely to replace Dumitru as the head of the Fiscal Council but if the vote is going to be given on political criteria the ruling coalition might win the seat.

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