european funds â a solution for the romanian economic recovery

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Volume VI/ Issue 2(16)/Summer 2011 Figure 2. The value index of the industrial turnover between September 2009 and September 2010 We can also mention important decreases of the total turnover for the industrial branches: other means of transportation manufacture (-19.7%), the repair, maintenance and installation of the machines and equipment (-19.2%), the manufacturing of tobacco-based products (-14.3%), other industrial related activities (-7.5%) and alcohol production (-6.3%). On the large industrial groups, we note the increase of the total turnover in the following branches: the capital goods industry (+17.6%), followed by the energy industry (+16.3%), intermediary goods industry (+13.8%) and durable goods industry (+5.3%). In the household goods industry, the turnover decreased by 0.1%. In December, the volume of construction works diminished, as an adjusted series, by 13.1% depending on the black-litter days and the season, as compared to the recorded level in the same period of the last year. The construction field has been one of the most affected by the present economic crisis. The labour market has also changed. The number of employees in industry (in the economic agents with more than four employees) was 1,213,600 in September 2010, by 0.200 more than in August 2010. The most of them, 980,900 are employed in the manufacturing industry, followed by water supply sanitation, waste management, remediation activities, 95,900 employees, the production and supply of electricity, heat, gas, hot water and air conditioning with 72,500 persons and by the mining industry with 64,300 employees. In the industrial branches, the food industry plans on the first place with 144,900 persons followed by clothing manufacture with 142,000 and automobiles, road vehicles, trailers and semi-trailers with 118,000 employees. The average gross salary in industry was 1953 lei in September 2010 and the net one – 1419 lei, i.e. an increase as compared to August 2010 (+1.1%) – see Figure 3 and also as compared to September 2009 (+6.6%). Figure 3. The average gross salary in the industry sector in September 2010 118
Volume VI/ Issue 2(16)/Summer 2011 The highest average gross salary has been recorded in the electricity, gas, heat and air conditioning production and supply industry – 3,471 lei, followed by 4,045 lei in the mining industry and by the processing industry with 1,714 lei. The lowest salary had been recorded in the following branches: clothing manufacture – 1,134 lei, woodworking, manufacture of wood and cork products, except for the furniture; straw products manufacture and other industrial plants manufacture – 1,156 lei and leather manufacture, leather tanning voyage products and morocco leather goods manufacture, harness, footwear manufacture, dyed furs manufacture – 1,218 lei. The lowest average gross salary of 1,705 lei was in the sector of water supply, sanitation, and waste management and remediation activities. The lei-euro currency rates of exchange have settled between 4.2 – 4.3 lei in the last months of the previous year. In the last part of the year and in the first months of 2009, the value of the euro increased rapidly, exceeding the rate of 4 lei/euro. At the beginning of 2010, our currency became stronger and the rate fluctuated between 4.1 – 4.15 lei/euro, compared to an average of 4.22 lei in the year before. The US dollar has had an increasing trend lately, reaching up to 3 lei. There could be solutions for all these deficits but in order to apply them, Romania needs time. The lack of anti-crisis measures leads to a deepening of the situation. Thus, applying financial taxes at the level of the European and global nations would further contribute to solve other problems (cooperation for development, the fight against weather changes) and would help the economy worldwide recover. The proposal concerns two type of taxes: the first one applied to the financial activities, on the whole European sector and the second one applied to international financial transactions. Since the banks and other companies which supply financial services have had an important role in the beginning of the crisis and since they have benefitted from a considerable support from the government of state-members these last two years, the tax would act as a contribution of the financial system to the economic recovery. On the other hand, compared to other sectors of the economy, the financial sector has fewer taxes to pay. For example, many banks are exempt from the value added tax and benefit from other various preferential advantages. The incomes thus obtained could be deposited as a fair contribution to the state budget. Meanwhile, the introduction of an international tax on financial transactions would act as a means of generating new incomes. These could be used to finance global policies, for instance the aid for development and the fight against weather changes. The European Commission will evaluate the impact of such a tax on the economy. If the effects of the crisis are not reduced in “the next period, the major risks for Romania consist in little deviations from the measures and goals stipulated in the agreement with the IMF, especially the admitted maximum budgetary deficit on 2010, i.e. 5.9% of GDP and respectively the goals established for each quarter”, stated by Baltavan. A new agreement with the IMF is “absolutely necessary” in order to facilitate Romania’s access on the European bonds market. “The money thus obtained will be used to cover the budgetary deficit and to pay the present loan from the fund”. 4. Conclusions Some American economists, analysts and journalists have made a study referring to the different effects of the economic crisis on women and men. The results showed that women have coped better with the crisis’ effects. The similar results were obtained in Europe, USA, Asia and South America and these led journalists to entitle the current crisis – “the mancession”. Many analysts reached the same conclusion and so the term “mancession” – used to define the phenomenon – has entered the common language. Why are men more affected by the crisis? Statistics have shown that men are more affected than women. Romanian women have saved their families during the crisis. The EU’s statistics show that 75% of the jobs created since 2005 have been occupied by women, one of the reasons being that in 90% of cases, women are better paid. Analysts consider that so far the agreement with the IMF has been the real anti-crisis measures taken by the government. As for the anti-crisis plan applied so far by them, this has been nothing, but a political action strictly formal without positive effects on the economy. Up to now, the state’s action 119
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european funds â a solution for the romanian economic recovery

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