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CFA Romania representative : BNR should leave the leu to depreciate to support exports

The Central Bank - BNR should leave the leu drop, to offer support to exporters and, thus, the economy should outsource the recession, Adrian Mitroi, general secretary of the association Chartered Financial Analyst (CFA) Romania.

« I hope those in BNR will be intelligent to let the leu go down, otherwise we lose the competitive advantage. It is about a competitive depreciation as a support for exporters. I would not like to see the leu appreciated as the real economy does not have to pay' Mitroi said, present at the conference ' Financial analysis and portfolio management' organized by the Association of Brokers. He added that the ' administrator' of the exchange rate will continue to be the National Bank of Romania which should keep the balance between liquidity and solvability.

« A currency which is easy to depreciate is a recession exporter. This means to import economic growth and to give the others from your recession' Mitroi said. The CFA Romania secretary mentioned that he would rather have an increase of VAT as this was the move in Hungary and it proved wrong.

'If we have a look at the Hungarians who took such measures before us, the deficit continues to be big and the forint is depreciated' Mitroi said.

Sursa: http://www.actmedia.eu

Tags: support should bnr romania

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