Romanian Govt Works On Solid Policies To Cushion Effects Of Economic Crisis – President

The head of state said countries all over the world face a global economic crisis and stressed the fate of the Romanian economy depends on the economic situation abroad.

Basescu also pointed out that no country can make it out of the crisis by itself, adding either all countries manage to do that or none will make it.

According to Basescu, the Government plans to develop solid policies meant to counter the effects of the crisis, by keeping the euro-leu exchange rate at a reasonable level to protect people’s incomes and financing the country’s high budget deficit.

Basescu said Saturday, within a meeting with businesspeople in western city of Timisoara, that Romania might return to economic growth in the second quarter of 2010, according to the central bank’s evaluations and forecasts.

Analysts polled by Mediafax recently said the Romanian economy is likely to enter a positive path as of the fourth quarter of 2009, though not before bottoming out in the third quarter, adding a revival depends on euro-zone economic development.