Isarescu: Economic growth to be re-launched in 2010

Governor of Romania’s National Bank (BNR) Mugur Isarescu stated on Thursday, at the presentation of the quarterly inflation report, that the economic growth re – launch is expected in 2010, in the context of an adjustment of the external deficit, productivity increase and a balanced budget structure.

„I think that the adjustment was excessive and I do not enter a prognosis game because it is not for BNR, but the economic growth will re-start sometime next year, although the recovery should have solid basis.

I give you the example of 1999, when the industrial production rose in Septembrie, GDP in the first quarter of 2000, when I was Prime Minister, but it was felt just in May”, explained the Governor.

He said that BNR prognosis falls within the estimated economic growth target, of minus two till eight – nine percent, but in the context of a reduced inflation the target will not be modified.

„The target is not affected, but I make no estimations because I am fed up of all these prognoses”, concluded the Governor.

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