Romania Needs To Uphold Investments To Overcome Crisis

Romanian President Traian Basescu said Saturday that the country has the capacity to exit fast from the crisis and it needs to do so by stimulating investments in agriculture and infrastructure.

Basescu said the country's goal must be to reduce the effects of the crisi, by "upholding new works, new activities, as much as possible without reaching a debt degree that would lead to the payment of accumulated debts at the end of crisis instead of enabling the profit from investments".
"We must direct development to investments. This crisis proves to us the mistake of founding economic growth on consumption, The lesson of economic growth via consumption ought to be clear, as we've experienced it," Basescu said.
 
He added countries like Poland or the Czech Republic based their economic growth mainly on investments, and these states are now less affected.
 
Basescu said the country's gross domestic product this year is at the 2006 level and the goal must be to bring it to the 2008 level.

mediafax.ro