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BERD : the stimuli announced by the Romanian government were rather « imaginary »Updated: 09-03-2010 | Economy
The stimuli package of 13 billion euro announced in February 2009 by the Romanian government for the counterattacking of the effects of the economic crisis was " more imaginary rather than real" the European Bank for Reconstruction and Development says (BERD). As a result of the crisis, many governments announced fiscal programmes, which seemed expansionist, but which in reality had a minor impact on the real economy, the BERD report says.« For example, in Romania, the government announced in February 2009 a package of stimuli of 13 billion euro to help the counterattacking of the worst effects of crisis. The idea was to allocate the largest part ( over 10 billion euro) for infrastructure projects. Until now, the stimuli were more imaginary than real" the BERD analysts say. According to these, « a few projects started, but the effect on the economic growth was little ».
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