Romania's central bank governor: strengthening fiscal revenues is inevitable
"The increase in fiscal revenues is inevitable. What matters is how and where it will be done," central bank governor Mugur Isărescu told a journalist during the press conference on the Quarterly Inflation Report on May 20, when asked…
iulian ernst · Journalist
· Updated · 2 min read
"The increase in fiscal revenues is inevitable. What matters is how and where it will be done," central bank governor Mugur Isărescu told a journalist during the press conference on the Quarterly Inflation Report on May 20, when asked about the likelihood that an increase in taxes and duties is necessary.
Pursuing fiscal consolidation only with spending cuts would have side effects, he implied, stressing that "cutting spending is recessionist [policy]" – meaning it hinders demand and thus growth.
