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BNR could revise downwards own forecast on Romania's economic growth in 2012

Romania's Central Bank /BNR/ could revise downwards its own forecast on the economic growth of Romania in 2012, BNR Deputy Governor Cristian Popa said on Thursday evening.

According to him, Romanian inflation will 'very likely' fall within the central bank's target range of 2 percent to 4 percent this year, Deputy Governor Cristian Popa said. The country's currency, the leu, is among the most stable in the region, with recent moves 'not dramatic,' he told reporters in the capital, Bucharest.

He said that more information in this respect will be offered after the adoption of the quarterly report on inflation by the BNR's Board, on November 3, 2011.

'For Romania, we now feel how strong the dependence to the EU is. More than 60% of Romania's foreign trade is with the EU. We are already speaking about the perspective of slowdown in the economic growth next year due the single but extremely important reason that in the EU the economic growth tends to be weaker,' BNR Governor Mugur Isarescu told Thursday's conference 'Challenges of economic growth in the European Union. Reforms for the future of Europe.'

'We may have a slowdown in economic growth in 2012, because we see globally a slowdown in the economic outlook in the euro zone and at the main trading partners. Exports already have a slowdown trend, industrial production, although it had an extremely encouraging number of orders, has had this trend for some months and we believe that the phenomenon will continue,' said, in his turn, BNR Deputy Governor Cristian Popa.

BNR can see no need to tax financial transactions in Romania

The National Bank of Romania (BNR) can see no need to tax the financial transactions in Romania, since the banks were not aided by public funds during the crisis, according to BNR vice-governor Cristian Popa.

'We can see no need why Romania should tax its financial transactions. We would like to be in line with the European legislation and we will obey this measure if it is taken and operates in Europe, of course. We are interested in issues of outsourcing and trading costs alteration,' said the BNR official on Thursday night.

According to him, a tax on the financial institutions might be better for Romania, and the revenues thus collected should get into a fund for possible interventions, in case of another turmoil affecting the banking system in Romania.

Popa said the Romanian banks consolidated their capital only by the shares of the private shareholders and that the Romanian state did not have to get involved with a single dime.

Sursa: http://www.actmedia.eu

Tags: bnr romania governor growth economic romanias euro

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