Melania Hancila, Volksbank: The banks will resume creditation this year

The Romanian economy will come back slowly over the next years and there will not be high levels of growth as the financial crisis and the postponement of imbalances correction will have effects on a long term and will delay the process of Romanian life standard harmonization to the European one, Hancila says.

As regards economic growth of 2010, she considers that the GDP may increase in real terms by approximately 1.5- 2.0% due to the industry, financial services and commerce. Regarding creditation, she considers that the banks will be extremely careful and selective when choosing the clients and the creditation will have a modest advance, as the public sector will continue to absorb a part of the liquidities in the banking system. The creditation process of the private sector will concentrate mainly on financing in foreign currency, due to the difference between interest and perspectives of strengthening the leu on a long term. The banks will offer credits with real estate guarantees to the population, and the companies will have access to the financing lines for working capital.

As regards savings, the population will keep the careful behaviour and will enlarge the deposits with growing rhythm of two digits, but the dynamics of the deposits for natural persons will slow down as compared to this year, while the companies will have modest rhythm of growth, as the liquidity deficit is still obvious.

If there is the possibility of a new wave of banckruptcy in 2010, Melania Hancila considered that " there will be numerous bankruptcies in 2010, but fewer than in 2009 as the critical point was reached in 2009 after the introduction of the contracting tax and the brutal contraction of the economy connected to the restriction of creditation".