Q: The Romanian economy has faced some significant challenges recently, how are things looking now?
A: We experienced a major adjustment, which started with the [2008 global economic] crisis. Romania switched from large capital inflows via all channels – from banking, foreign direct investment to portfolios, which up until 2008 almost flooded Romania, to a rapid slowdown (in inflows and growth) and a narrowing current account deficit. Alongside capital flows reversal, we also had a credit and banking adjustment towards what is going to be a new model of business.
