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Raiffeisen: Romania needs foreign loan worth 10-15 billion euro

Romania needs a foreign loan worth 10-15 billion euro, chief economist of Raiffeisen Bank Romania Ionut Dumitru said Wednesday at a banking seminar.

He explained that Romania's gross financial need for 2009 is 40 billion euro, but that is not the amount Romania has to borrow from abroad. Going on a very optimistic scenario, the financing need would be below 10 billion euro while a pessimistic scenario would indicate 17-18 billion euro. According to Dumitru, Romania's foreign financing need depends on how much the current account deficit will be adjusted and the degree to which the credit lines for the banking and non-banking sector, will be renewed.

Raiffeisen has already considered adjusting the current account deficit to 9 percent of the GDP, renewing the credit lines by 90 percent for banks and by 60 percent for companies.

Raiffeisen also took into account a level of the direct foreign investment for 2009, depending on the ISD volume of 420 million euro in January 2009.

 

Sursa: http://www.rompress.ro

Tags: euro billion foreign romania raiffeisen

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