"The economic crisis will be overcome through investment, not austerity"

Austerity has not led to good results after the 2008 economic crisis and is not a solution to overcoming the pandemic, said President Klaus Iohannis.

He made these statements after the meeting he had today with the ambassadors of the European Union countries accredited in Bucharest.

President Klaus Iohannis explained that the European Union has learned the lessons of the 2008 crisis and that austerity has not had a positive effect, so now, for the recovery from the pandemic crisis, the focus will be on spending money, on investment.

Klaus Iohannis: This time, no austerity policies will be applied. I know that there is a whole discussion, including in parliament there are some who are trying to say that they are moving towards austerity solutions. No, that is not the solution. The solution is to invest. We will overcome this economic crisis by spending money, putting money in infrastructure, in the real economy.

The head of state said that in the discussions with the ambassadors were also the national recovery plans and announced that Romania will receive a positive answer from the European Commission after the summer vacation.

Translated by: Radu Matei