Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Mugur Isarescu: We need short term capital inflow

The process of deleveraging is unavoidable and the domestic saving is insufficient,which makes it necessary to expect short term capital inflow, the BNR governor announced, showing that the central bank needs not to follow the exchange rate evolution, Mediafax announced.

'We have to prepare ourselves for deleveraging in Romania as it is unavoidable, all the signs lead there. A certain preparation in the monetary policy and surveillance have to take place in order to avoid a credit crunch. Let's think about paradigms again. We need investment, funding, the banks need funding, those relying on funding from parent-banks have to find alternatives and then we need other capital inflow even if it for short term. The reality is that at the exchange rate we start to look less as we can't help it' the BNR governor said.

He showed that domestic resources are limited and they don't have to be ' blown up' as there is the risk of inflation. 'Domestic saving if we stimulated it very much.. first this bucketful of resources is very limited. Unless you blow them up. We don't need to do that, to steal our own hat in order to increase saving and consumption. How could increase saving without destroying consumption? Carefully (...) and the state is limited, and the business circles and BNR is squeezed in. The reserve is used at less than tenth of what we could do in the past' Isarescu said.

The BNR data show that the number of companies to have got banking loans is dropping. At mid-year, less than 20% of the active companies had loans underway offered by banks or by other non-banking financial institutions in Romania or abroad.

'The number of companies with loans, domestic or foreign from financial institutions ( banks and IFN) reduced by 17.4% between December 2010 – June 2011 ( approximately 116,000 companies, 19.4% of the active companies in Romania, respectively). Out of the total of active companies, only 13.3% used financing from domestic banks ( June 2011)' the report on banking stability shows, 2011 issue, made by BNR. Only a third of the companies who benefit from financing have got loans from non-banking financial institutions in Romania or loan institutions abroad.

The balance of loans offered to companies and population was at the end of September of 221.4 billion lei up by 2.7% against August and by 6.5% compared to the same month of last year.

Sursa: http://www.actmedia.eu

Tags: companies loans banks bnr capital inflow short

Articole similare