PM Emil Boc: Government spent 45% of investment money by end of July

The Government spent four billion euro from the budget funds allocated for investments, which amounts to some 45% of the total investment funds, Romanian PM Emil Boc said on Friday, as quoted by news agency NewsIn.

But Boc said he was displeased that only 15-17% of investment plans were accomplished at local administration level.

He said he was not fully content about the overall level of spending, but „we are on the right path”.

He said that he expected the economic drop to stop by the fourth quarter of the year, followed by a „slight economic growth” in Q1 of 2010.