Great news everyone. In fact they are few days old but no biggie as they refer to budget execution for the first half of the year. Apparently it is amazing news as IMF mentioned it here, the government and president could not stop bragging about it and the chorus of “independent analysts” (wink) praised did their share to make this the summer blockbuster. So what next?
Here it is yesterday the government decided that such a great budget execution deserves a prize: a budget rectification promptly delivered by the awesome Team in Piata Victoriei. First one this year but I am sure they will not let us hanging and more will come. It is hard to cover up more and more expenses and still receive the IMF nod that all is ok.
Now, call me a cynic, (thank you) , but there is something weird about the two.
First, all throughout last week we celebrated this great budget execution and debated about the president’s message about arrears. I do not care about his view on such matters what I care about is the presence of ARREARS. How can you talk about outstanding budget execution when you do not pay your bills???
Second, the budget rectification (or magic math if you will) announces that the added funds will be spent on investments and paying the arrears. What???? Let me get this straight, you (government) could have paid the arrears already and made the investments (which on paper look great) but you decided not to? Hmmm. By any chance is this strategy related to having a good result in the first half of the year get the nice comments from IMF show the finger to the naysayers and get the pat on the back from the president? Do not answer it is a rhetorical question.