“Romania has achieved fiscal consolidation. Keep it! Don’t waste it!,” said Leszek Balcerowicz, former President of the Polish Central Bank.

He recommends Romania not to give too much credit to those who preach fiscal incentives, and anti-austerity propaganda.

“It’s only propaganda. The best solution in the long term is offered by fiscal discipline,” he added, cited by local Wall-street.ro.

In order to catch up with developed economies, an economy’s success depends on the number of active small and medium-sized enterprises, on education and on the match between the jobs available on the market and what the market actually demands.

The tax burden is reasonable in Romania, but if the Government wants to reduce it, it needs to take into account the costs. The best method is to reduce the taxes which are most damaging, like the indirect taxes and the taxes on real estate assets, said the former President of the Polish Central Bank, who attended a conference in Romania.

editor@romania-insider.com