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Ghetea: Interest rates for lei will drop in 2010, credits in euro will go slightly up

Interest rates for lei will drop and those for euro will grow slightly, estimates the president of the Romanian Association of Banks, Radu Gratian Ghetea, quoted by Radio RFI.

"If we speak about interest rates for lei, they will drop constantly. The National Bank has showed signals, commercial banks followed them and reduced interest rates both for deposits and credits. Personally I expect that in the euro area interest rates will grow slightly because the basic interest held at a certain level by the Central European Bank is at a historic minimum level and will probably grow," Radu Gratian Ghetea said.

The head of the Romanian Association of Banks considers that Romania has the capacity to attract European funds and the firms can make bank credits for co-financing."Romania has potential, an extraordinary possibility to attract many European funds and here we must find solutions so that entrepreneurs could use European funds, backed by banks with the so-called co-financing credits," Ghetea says.

On the other hand, the head of ARB says that Romania will not risk having the fate of Greece, who reached the incapacity of payment and is facing a huge budget deficit."We are talking about two states with different situations as concerns the solidity of the banking system in a moment of crisis. Greece had to use many funds to pump money in the banking system. It is not Romania's case," he said.Ghetea points out that Romania "has superior potential in point of opportunities: we think only about the infrastructure which should be built in Romania, to the fact that the apartment building sector represents an important business, which will continue to attract investors, both local and foreign."

Sursa: http://www.actmedia.eu

Tags: interest slightly romania euro credits rates ghetea