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Romanian CBG seeks better growth balance

Mugur Isarescu, governor of the National Bank of Romania, talks to Nick Kochan about boosting exports and bringing down levels of non-performing loans.
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Q: Romania is experiencing economic growth but some have asked how sustainable this is. What do you think?

A: Growth is at a very high level but it is unbalanced and too much is dependent on consumption. It is the opinion of both the National Bank of Romania and the European Commission that economic policy should be less pro-cyclical. With economic growth of almost 7%, it is clear we should have a [much] lower budget deficit. This now stands at 3%. We can only achieve our mid-term objective of 1% if we can revive investment in production.

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