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Romania Could Benefit From Global Credit Crunch – Ctrl Bkr

The global credit crunch has so far had no negative impact in Romania and might even help curb the country’s booming lending, central bank governor Mugur Isarescu said Wednesday at a financial seminar.
Romania Could Benefit From Global Credit Crunch – Ctrl Bkr
04 iun. 2008, 13:36, English

“So far, I am tempted to say the international financial crisis has had a positive impact, because it will help rein in lending growth,” Isarescu said.

The central banker said a prolonged subprime crisis might hinder economic growth, but current data indicate Romania’s gross domestic product growth shows no sign of slowing down.

Romania’s economy expanded by 8.2% in real terms in the first quarter of 2008, compared with 6% in the corresponding period a year earlier, according to the latest data from the country’s statistics board. A detailed breakdown will be released Thursday afternoon.