Grechanii commented the new loan to cover the state budget deficit

Grechanii commented the new loan to cover the state budget deficit
Minister of Finance Octavian Armashu came today to the parliament in order to ratify the agreement on receiving the next loan. The official admitted that the government needed money to cover the budget deficit.

“I once again tell you, if you take a loan, give it an investment assignment and do not spend on current expenses. Loans for current expenses were taken in 1997-98, when for three days they spent $75 million. And in 2001-2002, the country was on the verge of default, if they could not then take the situation under control. And now we again step on the same rake. Give this loan a special purpose, and it will be approved by the government financiers. All that we take on credit for eating out is in vain," Zinaida Greceanii, chairman of the faction of the PSRM in the parliament, said.

Her opinion was supported by representatives of the factions of the PCRM and the PL. However, despite criticism of the opposition, the parliamentary majority voted to ratify the agreement on the next loan of $30 million. It is worth noting that many economists have stated that the abolition of the allocation of macro-financial assistance from the European Commission will lead to the fact that the government will not be able to cover the budget deficit and will have again to resort to borrowing.



Date: 17:36 13/07/2018



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