Political crisis will increase country risk and costs of foreign loans (Voinea, GEA)

The political crisis will most likely strengthen the country risk and the costs of loans raised by Romania, said Liviu Voinea, CEO of the Group of Applied Economics.
‘The economic crisis is far from being ended and the measures which have so far been taken have a strictly monetary component, namely are those which make the crisis sustainable from a financial viewpoint, there are measures which are only trying to fund deficits.

They are not measures to get us out of this crisis, they are not measures able to lay the foundations of an economic growth. We are expecting the recovery of the foreign growth to take us out of the crisis, whilst the political instability will deepen the country risk and increase the costs of loans taken by Romania.

Unfortunately, Romania is in the situation of living from loans and I refeore more to the state than to private companies. For both, however, the political crisis will trigger the rise in the loans’ costs, mainly those in foreign currency,’ said Liviu Voinea.

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