Romania’s economic growth should stem from exports, central bank governor deems

The growth pace of exports should outrun that of imports to sustain a healthy economic growth which should be underpinned mostly by exports, the central bank’s governor Mugur Isarescu said.

The economic advance should also be sustained by growth in productivity, Isarescu said. Exports started to outpace imports since December last year. In the first four months of the year exports rose 16.7 percent while imports increased 15.8 percent, according to the country’s statistics body INS.

Romania needs to continue its strategic development and grow rapidly to bridge the gap over Western countries, Isarescu said, pointing that a faster growth pace also poses high risks.

In the first quarter this year, the gross domestic product measuring the country’s economic advance grew 8.2 percent beating analysts’ estimates.

Yet, no matter the economic growth, the macroeconomic equilibrium remains an issue to look after, the governor also said.

NewsIn