Romania’s economy to advance 5% next year over European average, banker deems
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Romania will witness an economic growth next year of about 5 percent above the average inside the European bloc, helped by good minimum mandatory reserves, banker Radu Gratian Ghetea, the head of Banks’ Association (ARB), said.
The country could gain from the global financial crisis, he said, betting on good economic advance which could lure investors.
"There are clear clues Romania’s economy will grow 5 percent," Ghetea said. "The minimum reserves coupled with the central lender’s measures will protect the banking system," he added.
Romania is safe from facing real estate crisis such as in the U.S. since most of the loans are consumer. Mortgage loans total some 5 billion euros and consumer ones 20 billion euros.
Romania’s economy could accelerate only 4.6 percent next year, below the 6 percent level considered when drafting the budget, according to the vice governor of the central bank BNR, Cristian Popa.
This estimate is also below the last prognosis for this year of 9.1 percent.
The slowdown in economic growth this year will stem from reduced lending which will affect mostly the consumption demand and the foreign currency crediting, he said.
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