Stolojan admits: We'll cut investments to pay salaries

The government has just one week left until 1 September, when the 4-month period during which Romania has to operate savings of 0.8% in GDP (1bn euros) starts, but no concrete decision has been made so far, with the Finance minister’s decision to set up a 10-day unpaid leave for public sector employees being criticised by president Traian Basescu. Under the circumstances, as the deadline is drawing nearer, the lack of decisions is blocking the functioning of the government, which is not coming up with concrete solutions. Ultimately, the government will have to cut investments to be able to pay salaries, maintains Theodor Stolojan (PD-L), who almost one year ago refused to be the premier of the PD-L-PSD coalition. Premier Emil Boc has pledged to cut 0.8% of budgetary expenses during talks with the International Monetary Fund to get 1.9bn euros, the second tranche of the loan from the IMF, of which half would be aimed at financing the deficit. There are three weeks left until the IMF board decides whether it gives Romania this money or not and the government has done nothing.