The Government plans to have an economic growth of 3% every year, which will be “healthy, sustainable”, by adopting the Fiscal Code, said Prime Minister Victor Ponta.

“I heard that it’s not good to have high economic growth. Let’s be serious, it’s very good,” he added.

Romania’s GDP increased by 3.7% as gross series in the first half of this year, which places it before countries such as Bulgaria, Hungary or Poland, “countries we need to compare ourselves to”, Ponta said. By adopting the Fiscal Code, the gap between Romania and other Western countries will go down.

The Central Bank governor Mugur Isarescu, however, said last week that Romania’s economic growth of 4% was reaching the limit of its current economic potential, and that stimulating consumption on a large scale through massive tax cuts endangered the macroeconomic equilibrium.

editor@romania-insider.com