RSS
Voinea (BNR): economic growth over the potential, with focus on the consumption does not rely on loans
Economic growth over the potential, with focus on consumption does not rely on loans, and the financial cycle is at present separated from the economic one, stated on Wednesday Liviu Voinea, vice-governor of the central bank - BNR, in a conference organised by Coface.
‘The financial cycle is at present partially separated from the economic cycle, was left behind. It is not a characteristic of Romania only and always after a financial crisis there is the resumption of the financial cycle. With these words, the economic growth over the potential, with focus on consumption, not on loans. I wouldn’ t say it lacks loans, but it does not rely on them’ Voinea said.
He reminded that BNR ensured and ensures the stability of prices, the financial stability and that of the exchange rate.
‘BNR reduced the monetary policy interest of over 20 times as number of decisions starting with 2009, from 10% to 1.75%’ the vicegovernor BNR said.
Between January – March 2017, Romania had the strongest economic growth rhythm in Europe, due to an advance of 5.7% as compared to a similar period of past year.