Romania's new Government, which was announced on Tuesday evening (May 1 ) by Prime Minister designated Victor Ponta (in picture) and which should go through the Parliament vote next week, aims to present the country's audit within a month from taking office. "In maximum a month from investiture, we will present an audit of Romania's real situation. We are not in a very happy situation. We have received messages along the line 'we're leaving, but we leave the coffers filled'. But you know they are filled with debt,”said Victor Ponta.

The new PM also said, after meetings with International Monetary Fund (IMF), World Bank (WB) and the European Commission (EC), with whom Romania has financing agreements, that numbers show the premise to lift public wages up to the 2010 level, while changing the budget deficit target.

The PM's aim is for the new cabinet to approve the letter of intent with the IMF is its first meeting, on May 8, should the new Government get the green light from the Parliament.

Ponta unveiled the members of the new Government. He nominated Florin Georgescu, the First Deputy Governor of the Romanian Central Bank (BNR) to lead the Finance Ministry.

Florin Georgescu, 58, returns at the Finance Ministry after 15 years. He was minister from 1992 to 1996 in the Government led by Nicolae Vacaroiu. He is one of the most influential financiers in PSD and he has been member of the BNR board since 2004. His acceptance of the nomination comes as a surprise for many analysts, but some say that in these seven months until the parliamentary elections, he will act as the shadow prime minister, as Victor Ponta, 39, is the youngest prime minister in Romania’s history. Ponta will also be involved in the campaigns for the local elections in June and for the parliamentary elections in November.

The full list of ministers here.

Romania’s Government was toppled after a vote of no confidence in the Parliament on Friday (April 27 ), when 235 MPs voted against the government run by Mihai Razvan Ungureanu, that was only two months and a half into office.

The country’s opposition, the Social Liberal Union (USL), which includes the PSD, PNL and PC, has become the ruling group, sending the Democratic Liberal Party to opposition.

editor@romania-insider.com