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BNR Vice Governor: Upcoming years to bring average economic growth rates of 3-4 pct in region

According to estimates, the upcoming years will bring economic growth average rates ranging between 3 and 4 percent in Central and Eastern European states and the current account deficits will hold steady around the level of 6 percent of the Gross Domestic Product, Vice Governor of the National Bank of Romania (BNR) Florin Georgescu told the conference named Rethinking Business - Added Value in the Accounting Function, staged by the Association of Chartered Certified Accountants on Wednesday.

According to the BNR vice governor, this favourable development must be reinforced by balancing the ratio between investment and saving rates. 'The avoidance of applying some solutions to grant suitable motivations in order to increase the tendency towards saving is no longer allowed. In the same manner are approached the creation of prerequisites for an efficient financial integration, backed by a solid framework of regulation and financial supervision, as well as efficient mechanisms of crisis management,' Georgescu added, reiterating Romania recorded deficit rates of 13.5 percent in 2007 and of 11.5 percent in 2008.

Florin Georgescu also said the answer at the question regarding the best pattern of economic growth in the upcoming years does not fully depend on huge money inflows, but especially on a successful change of the self-managing model, supported by a range of anti-cyclic economic policies, cooling the buoyant excesses in the periods of booming business and backing the real economy in periods of balancing the added value, by funding important projects, such as those related to infrastructure.

'The positive signals of this new phase are already emerging, especially as we became wiser after the difficult woes the crisis put us through,' BNR vice governor said too.

Sursa: http://www.actmedia.eu

Tags: growth rates economic years governor upcoming bnr

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