National Bank Governor: Romanian Economy Refuses To Collapse

“The economy is growing. If you were to follow the TV stations, everything should collapse in this country. It doesn’t want – it really doesn’t want at all to collapse. It carries on,” said Isarescu during the conference “Inflation in the last 10 years”.

However, the BNR Governor also said that Romania has problems competing with the Czech Republic, Poland and Hungary in regards to agricultural products, which added to the country’s current account deficit.

“The economy is cyclical and it would be very bad if the downard phase of this cycle were to catch us with a big foreign deficit,” he added.

Romania’s national prognosis agency CNSP estimated in its most recent report, at the beginning of November, that Romania’s economy will grow by 4.5% this year – one percent lower than the value estimated in July.

In 2017, Romania’s economy grew by 7.3%, following a 4.6% growth in 2016.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.