Basescu: There is no prediction for leu depreciation

President Traian Basescu says that there are no predictions of a depreciation of the Romanian currency (leu), that the Romanian banking system is solid and that Romania will not be able to relaunch its economy before this stage is reached by the other European countries as well.
„We have a stabilized national currency, inflation has been decreased to a minimum and there are no predictions for the leu depreciation,” Basescu said Wednesday at the headquarters of the Chamber of Commerce and Industry in Athens.
He pointed out that the Romanian banking system is solid, as certified by the IMF checking and the stress test the Central Bank conducted on the commercial banks.
„I want to thank the Greek banks – Piraeus Bank and Alpha Bank – that operate in Romania and hold 16% of the Romanian banking market, with Greece being the second largest operator, after Austria, on the Romanian financial market,” Basescu explained.
He also emphasized Romania’s potential for investment.
The head of state said that the April statistics point to a certain economic growth, but he explained he did not want to make any forecast based on that result. He stated that, in the context of the crisis, the government programs lay emphasis on investment in infrastructure, the blocks’ thermal insulation and the support of the SMEs.
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