Central Bank counselor: The Governor bets that Romania will not have a negative growth this year, despite the two quarters of contraction

Joi, 7 mai 2009, 11:04 English | Business

"Sure the European Funds are attractive, but I ensure you they are difficult to obtain, even after all the simplified procedures. I think that you  need to make a deal with the banks. This deal is not so hard to sign", said Adrian Vasilescu, counselor of the Central Bank (BNR) Governor, Mugur Isarescu, during a conference dedicated to small and medium enterprises and their need for financing.

According to Vasilescu, Romania is not in a difficult position, with all the banks still holding on, even though more cautious than before.

In his speech, Vasilescu said that the BNR governor, Mugur Isarescu, believes that Romania will end the year without a negative economic growth, even though the first two quarters of the year will end in contraction. The first priority, Vasilescu says, is to re-launch the exports, in order to gain some balance and help the gross domestic product.