President Traian Basescu declared on Monday, at the Romanian Economic Forum that the Government, together with the National Central Bank are attempting to maintain an exchange rate between 4 lei/euro and 5 lei/euro, a value that would favor exports and not destroy the purchase power.

Here are some of the most important declarations of the President:

  • The objectives of the government is to diminish the effects of the crisis. The media presents angry people who blame us that we do not take the country out of the crisis
  • About the IMF agreement: we attempted to consolidate the reserves of the central bank to maintain a stable euro-leu exchange rate. This exchange rate should favor exports and maintain the purchase power of the people
  • The IMF agreement is meant to finance the deficit and pay pensions and salaries
  • The most important target of the government is to diminish state costs. These are hard times which are hard to maintain
  • The effects of the crisis lead to a normalization of the current account deficit
  • An economic growth will most probably be witnessed in the second quarter of 2010