The international financial crisis might have a positive impact on Romania by moderating the pace of growth for both credits and the current account deficit, Romania's National Bank governor Mugur Isarescu has declared. He added that, if the crisis continues, the only risk would be that Romania's economic growth would moderate.
Isarescu added that, considering the gross domestic product's advance by 8.2% the economy might overheat since the increase exceeds the resources of the society. He said that the economic growth was higher than initially estimated but was not surprising.
Vice governor Eugen Dijmarescu said that the economic growth of the first quarter seems to be above the potential of the gross domestic product and thus the threat was real. He added that due to this a decrease in the interest rate of the monetary policy is unlikely.
When it comes to the inflation, Isarescu declared that if there are no supplementary pressures, the inflation might moderate at around 6% by the end of the year and it will enter a targeted path by the end of 2009.