FinMin Citu: Budget revenues in May will not look very good, strong June is needed

Budget revenues in May will not look very good, so fiscal and monetary policies need to be relaxed even more, so that revenues in June are very good, the Minister of Public Finance Florin Citu said on Friday to the private TV broadcaster Digi 24. "In April, in the midst of an overlapping crisis, both economic and health, we managed to collect more to the budget than last year. May will not look very good, we are now entering this period - April and May are two challenging months, but we need to restart the economy and relax fiscal policy and monetary policy even more, because we need a strong June so that we can avoid any decline this year," said Florin Citu. The Minister of Finance appreciated that the results published on Friday by Eurostat, according to which Romania registered, in the first quarter of the year, the highest economic growth in the EU, show that the apocalyptic scenarios regarding the Romanian economy are ruled out and added that Romania has very high chances to avoid a technical recession. He said the positive result in the first quarter was due to the relaxation of the monetary and fiscal policies. "We learned from the crisis back in 2008 and it was necessary to relax the monetary policy and the fiscal policy. We, on the fiscal policy side, injected money into the economy, the central bank reduced interest rates. So this mix of monetary policy and of fiscal policy, put a stop to this fall, and now we hope to have that comeback in the third quarter. (...) It was very important that along with relaxed fiscal policy came relaxed monetary policy. This tandem has worked very well, for us, this is the first time in our history that we have a mix of policies that work," he added.AGERPRES(RO - author: George Coman; editor: Mariana Nica; EN - author: Simona Iacob, editor: Maria Voican)