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The Economic Growth Is Good, But Not Healthy – Romanian Pres

Romanian president Traian Basescu said Monday in Damascus, in a meeting with the members of the Romanian community in Syria, that "Romania’s economy is working and is growing, though it cannot be called a healthy growth," adding that investments in infrastructure will be unfolded next year.
The Economic Growth Is Good, But Not Healthy – Romanian Pres
20 oct. 2008, 19:49, English

Basescu wanted to share a few words with the representatives of the Romanian community, describing “the situation back home,” saying that this financial earthquake on the markets in USA, the EU or Asia has not struck the Romanian banking system.
 
"If you follow the exchange rates, you will notice that there have been attempts for speculation on the exchange rates, but the central bank’s drastic intervention blocked any such actions. So we have exchange rates within the set parameters, discussed with bank managers as well, a reasonable one, which reflects Romania," Basescu said.
 
Regarding the economy, the head of state said “it is working, with 9% growth."
 
"We need to acknowledge, however, and it is a truth we are not dodging, that the economic growth is a combination of foreign investments and consumption. I cannot say it is completely healthy, but it is a good growth," Basescu said.
 
Romania will not see a depreciation in economic growth, because "come next year we will begin spending the EU money," namely investments in road infrastructure, highway programs, which will unfold in the second half of 2009,” the head of state said.
 
"If the country is beautiful, it will be well equipped with infrastructure as well, in the next ten years," Basescu said, adding that it takes "two budget cycles for Romania two spend the EUR32 billion coming from the EU, plus the country’s own contribution, which ill bring the total invested amount to EUR54 billion."
 
He added the second budget cycle, in 2013, will target the allocation of at least the same amount for Romania. "We will be able to say it is a relatively modern country,” Basescu went on saying.