The Prime Minister Victor Ponta on Tuesday made public the economic results registered by Romania in the first quarter of the year. Figures show that exports increased significantly, by 8%, and the country had the lowest

deficit of the trade balance in the past 10 years (some 200 million Euros). Therefore, Romania managed to meet the deficit target agreed upon with the International Monetary Fund.
The industrial output also increased by 4.6% in the first two months, and VAT returns, excise duties and income taxes went up by more than 10% as compared to the same period of last year. In exchange, the Prime

Minister also announced the bad news of a significant decrease in profit taxes. In his opinion, the insolvency law should be amended, because there are many companies that are unable to ensure a crediting flow and fail to

meet their obligations to the state budget and to their suppliers. Such companies fraudulently go into insolvency and no longer pay taxes just like other firms which operate in the economic market.

The Prime Minister has said the government should amend the insolvency law, to help companies that are truly insolvent and to penalise those how fraudulently go insolvent.

As for the privatisation of the state-owned railway corporation, CFR, and the natural gas carrier, Transgaz, Victor Ponta has said there is a significant over-subscription of their shares, and this is a sign of confidence and of

a development potential. He has added that the current budget discipline might be toughened in the ensuing months, and this is a guarantee that the Romanian economy might continue to follow an upward trend.