Raiffeisen chief-economist: Economic policies have to boost saving money
In his opinion, currently, the interests granted by banks are very stimulating, they are „a little bit higher than a neutral interest.”
A current account deficit on the rise reflects the deterioration of the saving-investment balance, it is generated by the private sector first.
„If the agricultural sector were better used, we could have an surplus”, Ionut Dumitru said.
According to him, the balance of revenues could contribute the most to the current account deficit in the years to come, repatriated profits and dividends paid to foreign investment could rise due to the high foreign direct investment and the experience in other countries in Central and Eastern Europe.
In 2007, Romania, Bulgaria and the Baltic states registered an excessive current account deficit.