PM hopes for economic recovery following agrreements with IMF and EC

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PM Emil Boc on Wednesday at the opening of the SMEs fair, reminded that the 13 billion euros borrowed from the IMF will go to the National Bank of Romania (BNR) with a view to unfreezing lending, while the 5 billion euros from the EC will finance the budget deficit.

„13 billion euros of the amount will go to the National Bank of Romania (BNR). We hope that the BNR , by correlating monetary and fiscal policies, will boost lending in the upcoming period. We also hope that, also thanks to the BNR policy, interest rates will decrease and the market will have more financial liquidities in order to finance the SMEs and economy as a whole, create jobs and preserve the current ones,” Boc explained.

He underscored that the money from the IMF will strengthen the country’s hard currency reserves.
That means, according to Boc, a reasonable exchange rate will be maintained and more money will be granted to boost lending.

The PM voiced hope that an improvement of the business environment will be noticed in the upcoming period.
„There are quite good premises that make us hope for an improvement of the business environment and of economy,” the PM explained.

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