Ialomiţianu: "Romania can"t cut fuel excises!"

Fuel excises can"t be cut in Romania, even though this was possible in other countries of the European Union, Finance Minister Gheorghe Ialomiţianu said yesterday. He added: "The accession agreement which was negotiated with the EU stipulates that the excises would reach their minimum level in 2011. Other countries were able to cut their excises because they exceeded the minimum levels, but in order for us to lower them, Romania would have to renegotiate the accession agreement, which is impossible to do".

Last week, in a meeting with the representatives of the Council of Foreign Investors, the Finance Minister had announced that the Executive would discuss the possibility of cutting excises for oil-based fuel.

• 46 billion lei - the investment budget for 2012

The Minister of Finance also said yesterday that the Government is interested in increasing the investments in creating new jobs. He said: "The fiscal strategy of the government provides investments of 46 billion next year, up from 35 billion this year. Another provision is that of a 2% cut of social security contributions in the case of employers, meaning they would be encouraged to create new jobs".

The budget plan for 2011 relies on an economic growth of 1.5%, and of 4% for the year 2012, which, in the opinion of Gheorghe Ialomiţianu, means that there are good signs for the state of the economy. She said: "Next year we will be able to pay the difference on the wages of the public sector workers (which last year were reduced by 25%, and later raised 15% - ed. note), as well to adjust pensions according to the inflation rate and the evolution of the real wages".