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Romania proposes measures to fight economic crisis (Bucharest)

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BUCHAREST, Romania (AP) Mon Nov 17 — Romania's Prime minister Calin Popescu Tariceanu on Monday proposed lowering taxes and injecting over $12.6 billion Protected content euros) in the economy over the next four years to support the country through the financial crisis.

Tariceanu, facing elections on Nov. 30, urged his cabinet to prepare for "a quick
implementation of anti-crisis measures" starting Jan. 1, Protected content .

His center-right Liberal Party is running third in election polls but hopes to be in a coalition government to implement the measures.

Romania has seen about 8 percent annual growth in recent years, but companies said last week they are preparing for a long and deep economic downturn.

Tariceanu also proposed a bonus of $1, Protected content 1, Protected content each job created for unemployed people and state aid to new investments generating jobs.

The announcements come after company announcement of hefty job cuts in Romania.

Firms in the chemical and fertilizer industry said last week they would lay off some Protected content due to a drop in orders. Carmaker Dacia said it would halt production from Nov. 20 to Dec. 7 because of the financial crisis, which has led to a 30 percent drop in cars sales in October compared to a year ago.

Dacia's 14,400 workers will get 85 percent of their salaries during the production halt.

Steelmaker Arcelor Mittal said last week its factory in Hunedoara, in western Romania, will close in November and December as de mand for steel dropped sharply on international markets.

-- Geo Scripcariu

Bucharest Forum

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