Presidential candidates introduce economic proposals

Traian Basescu, Mircea Geoana, and Crin Antonescu are the first to officially announce their candidature for the presidency, while Bucharest's Mayor, Sorin Oprescu, is expected to join in shortly. Their first statements regarding economic solutions are covering many first pages of local newspapers and have attracted international interest. The November elections will not only lead to the nomination of a president, but will also reveal an economic vision, which Romania needs to overcome the crisis.

"The speeches of the presidential candidates will surely refer to economic elements, because of the current context. Each of these will attempt to catch his opponent in offside, and the economy will be one of the electoral battlefields," political analyst Bogdan Teodorescu said.

The leader of the National Liberal Party (PNL), Crin Antonescu, identifies fiscal relaxation measures as incentives for economic recovery, to attract foreign investors and create jobs. The PNL program includes cutting the flat tax to 10 percent, reducing value-added tax (VAT) to 15 percent, and lowering social contributions by up to 50 percent. Moreover, the liberal candidate believes setting a date for the adoption of the euro is a Romanian monetary policy priority.

Helping Romania overcome the economic downturn is also a priority for the leader of the Social Democratic Party (PSD), Mircea Geoana. Besides "spending public funds responsibly," and investments in infrastructure, Geoana favours a differentiated value-added tax for basic goods and services and exempting reinvested profit from tax. The official also supports introducing a 20 percent tax on monthly revenues exceeding RON 3,000 (some €700) and overtaxing exceptional profits by the end of the crisis. Adopting the single currency in 2014 is also on Geoana's agenda.

Some of the priorities included in the future political program of Romania's current President, Traian Basescu, are the management of the fiscal and monetary policies and of the macroeconomic situation, in order for Romania to join the eurozone in 2014, adopting the fiscal responsibility legislation, and the rapid and efficient use of European funds. Basescu will likely maintain the flat tax at 16 percent, according to his own statements in September, and plans to simplify fiscal legislation.

Sorin Oprescu has not officially announced that he is running for president, but indicated that he will soon respond clearly to questions on this matter. He has not yet expressed an economic vision, but did say that he favours the socialists in this respect.

standard.money.ro