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PM Tariceanu: Romanias economy is not affected very much by US crisis

PM Calin Popescu-Tariceanu said, late on September 22, on the public TV, that the economy of Romania does not suffer a lot from the financial crisis in the US, but there will be some effects at the level of Romanian economic players, for example loans will be more expensive because of the crisis of liquidity.
The prime minister admitted that, for next year, Romania’s economic growth can be slower than in 2008, but this is no crisis. He showed that the Romanian economy is not fully protected from the crisis in the US, but he insisted it would not be affected very much.
“What I have said is not my idea, only, I have held consultations with analysts, bankers, Romania’s Central Bank (BNR), everybody has told me the measures taken in the Romanian banking system protect us from the effects of the crisis in the US,” said the premier, who added that much of the loss last week on Bucharest Stock Exchange (BVB) has already been recouped.
Tariceanu said last week, at a conference of presentation of the report on the governing programme, that he is confident that the financial crisis in the US will not have bad effects on Romania’s economy, on the citizens of Romania.
The prime minister said he is optimistic that BVB can recover, after having scored a record negative index, for the past years.
“Stock exchanges are a very sensitive element in such cases, even a political statement which is out of place can lead to an earthquake on a bourse. Taking into account the strong growth trend in Romania, I can only see, for the future, that the bourse will recover, and investors will trust it again. First, investors stopped trusted it, I believe, and the financial crisis has made many  nvestors in the West sell shares listed on BVB,” Tariceanu also said.
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