Credit rating agencies do not know Romania and they draw up office reports
The press reports that Moody’s, Fitch and Standard & Poor’s have estimated a slowdown in Romania’s economic growth. A Standard & Poor’s team was expected to visit Bucharest on Sept. 1.
Tariceanu believes the world economic crisis will affect Romania to smaller extents. "As long as Romania is a country with an emerging economy, it will continue to grow," he says.
Asked by the paper to say how justified the latest measures taken by the National Bank of Romania (BNR) to toughen loan requirements in an attempt to dampen rises in consumer loans, Tariceanu said BNR could have not taken them, but since it did take them their results remain to be seen.
In relation to criticism that wage rises outdo productivity gains, the Romanian head of state says the country can no longer afford to be attractive for law wage costs only.
On the other hand, Tariceanu says the integrated energy corporation approved to be established in Romania is an important national project and the project will be carried out despite criticism, coming also from the European Commission, which Tariceanu argues is not entirely justified. He insists that this integrated energy corporation will be a drive that will help Romania become an important regional energy player.