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Romania’s Priority Is To Restart Healthy Econ Gwt – Ctrl Bker

The Romanian authorities’ and the central bank’s priority should be restarting healthy economic growth, central bank governor Mugur Isarescu said Thursday.
Romania's Priority Is To Restart Healthy Econ Gwt - Ctrl Bker
02 iul. 2009, 12:43, English

“The real test is that the economic re-launch is made on a healthy basis,” Isarescu said during the “Romania Financial Forum” seminar, organized by MEDIAFAX and the central bank.

Economic growth should not create inflationist pressures and not lead to a larger current account deficit, as in the past, the governor said.

Thus, a mix between the government’s and the markets’ actions is necessary to re-launch economic growth on a healthy basis, Isarescu added.

The governor reiterated that Romania has anti-crisis programs, namely the agreements signed by Romanian authorities with the International Monetary Fund, the European Commission and other international financial institutions.

Romania and the IMF signed in May a EUR12.95 billion two-year stand-by arrangement, as part of a EUR19.95 billion financial package that also includes funds from the European Commission, the World Bank, and the European Bank for Reconstruction and Development.