Yesterday I watched some guy from the ruling party PDL on TV talking about the budget deficit for the first 10 months of this year. He was boasting about the 2.5% deficit allowing room to reach the 4.4% target for the year.
This morning I was watching a report showing that a hospital doing lab analysis for the Police Department is about to close its doors because it has not been paid for a year by its client.
Of course I know that the guy yesterday was talking about the cash budget deficit and not saying a word about the arrears. I do understand the politician trying to hide the truth. I do not understand the independent media and analysts not telling the real story about the budget deficit.
What Romanian politicians do not understand is that while cash budget deficit is not directly affecting economic growth the size of arrears does. But independent analysts should and is their role to tell the real story.
P.S. I would, but the mainstream economic media has no love for me