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Romania will come out of the crisis when it becomes attractive again

'For the economy to get healthy we must reduce the indebtness level. The comparison between the housing banks and the commercial banks show us that we live over the level we can afford. In a saving- lending contract you could get, on average, a loan of 20,000 lei, while the commercial banks offer 25,000 euro' Razvan Munteanu, vicechairman responsible with the retail activity of Raiffeisen Bank Romania says.

The saving-lending contracts start from the hypothesis that a person saves for a period, while she gets an interest and a bonus, after taking a loan with fixed interest to complete the saved sum and do up or acquire a house. The big difference between the value of 20,000 lei and the 25,000 euro shows us that in the past the Romanian society lived over its level, or, fact which led to a slippage at the level of consumption the moment the economy went into recession.

'Things do not seem pink economically speaking, working places are fewer and hard to find, supplementary and normal income have reduced. The economic environment of Romania is more difficult. The explosion of 2006-2008 led to a level of debt of the population which makes it difficult to lend money' the vicechairman of Raiffeisen Bank Romania said. He thinks that, although the level of financial go-between was at a low level in Romania and the market presented potential in comparison with the rest of Europe, the 4 million Romanians who borrowed money got too much in debt.

Romanian economy could grow, under these conditions, only by inflows of foreign capital, Razvan Munteanu considers, mentioning that the basic scenario of Raiffeisen shows an economic growth of 1% in 2011, while the pessimistic scenario reflected a stagnation of the economy or a slight decrease.

The banks make operations of balance cleaning ( write-offs) and help the process of reduction of the level of debt. Besides that, there is the exchange rate and the inflation and they are the three macroeconomic elements whose evolution has as effect the increase of competitivity. We will get out of the crisis, we will reach a certain level the moment where the level of attractiveness is higher than the level of uncertainty' Munteanu says. The Raiffeisen Bank vicechairman considers the Romanians will see that Romania went out of the crisis only 3-6 months after it came back.

Sursa: http://www.actmedia.eu

Tags: level crisis romania euro euro

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