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Romanian Prime-Minister: We’re seeing the first signs indicating that the rapid decline in economy has ceased

de C.B.     HotNews.ro
Miercuri, 13 mai 2009, 12:15 English | Top News

Romanian Prime-minister Emil Boc has declared on Wednesday that Romania’s economy experiences the first visible signs indicating that the rapid decline in economy has ceased. The Prime-Minister went on to say that certain departments record positive growth.

"The situation is not solved yet, but the actions the Government is taking start to show their efficiency", Romanian Prime-Minister declared on Wednesday, in the parliamentary debate session addressing the National Liberal Party motion entitled The PDL-PSD Grand Farce. PDL stands for the Democratic Liberal Party, while PSD stands for the Social Democratic Party.
 
The main arguments brought forward by the head of the Government are the following: 

  • The exchange rate stability: since March 20, the leu has been recording a continuous appreciation, from 4.29 lei/euro to 4.25 lei/euro.
  • The Central Bank’s reference interest rate has dropped. We expect the banks to pick up the signal and restart lending.
  • The unemployment growth has slowed down. April saw only 4000 new unemployed, which means that the unemployment rate grew with only 0.1%.
  • The danger posed by inflation is under control, casting positive repercussions on the buying capacity. The annual rate is decreasing, while the services are becoming cheaper.
  • The building sector starts to rehabilitate. February saw a growth in the number of authorisations for residential buildings.
  • The primary foreign investments are increasing. The first two moths of 2009 recorded a 38.1% growth against the same period of 2008.
  • March exports have seen a 500 million lei increase in value against February.
  • Moody's confirmed Romania’s rating.
  • The budgetary income is rehabilitating. April recorded 15.3 billion lei, as opposed to 12.1 billion lei recorded in March. 























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