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Economic expert Blanculescu: 2012, a positive year for Romanian economy

2012 will be a positive year for Romania's economy, despite the adverse effects of the sovereign debt crisis that holds sway over the euro area, and competitiveness will become the 'religion of national economy,' says Ionel Blanculescu, president of the company Consultancy & Financial Investigations, and former Minister-delegate in charge of the coordination of control authorities.

'2012 is the first year after the economic crisis - which spanned three years, specifically 2009, 2010 and 2011 - and it will be marked by various stages of the downturn metamorphosis, such as the sovereign debt crisis, or by particular states we are functionally and operationally interconnected with running into excessive debt. Even against such a background, the cyclical nature of the economy will take Romania's economy to the post-crisis stage, which is one of reinvigoration and bounce-back that could further lead to expansion in the next three years,' Ionel Blanculescu on Wednesday told Agerpres.

In his opinion, competitiveness will become the 'religion of national economy,' and tourism will be the star of 2012.

'2012 will be a positive year for the Romanian economy, characterized by optimism, hope and enthusiasm, on the foundation of a never seen before real growth in the country's competitiveness, which is the backbone of a top-performing economy. Competitiveness will become the religion of national economy, and those who do not know what this means will have to look up the term in the national and international economic dictionaries,' explained the economic analyst.

He specified that if the government of Romania succeeds in supporting this new economic leash of life by intelligent and courageous economic policies, 2012 will be a success for Romania's economy which is keen on putting behind as fast as possible the purgatory it has been through in the past three years of tough crisis.

'I believe that Romanian tourism will be a pleasant surprise in 2012 just as agriculture has been the star of 2011,' added the economic analyst.

As for the evolution of the exchange rate, Ionel Blanculescu believes that in 2012 it will follow the positive trends of the economy, keeping relatively stable within a variation corridor between RON 4.1 and 4.4 RON per euro.

'I do not expect the exchange rate to explode even at a time when some euro area countries will probably induce major distortions on this market, followed by exchange rate volatility, but this will happen for just short periods of time. The experts advise no panic in these fleeting moments that are similar to flight turbulence,' said the president of the Consultancy & Financial Investigations firm.

The economic analyst also believes that Romania will meet the provisions of the agreement with the IMF this year because it is one of the most diligent students.

'Romania will largely comply with the provisions of the agreement with the IMF this year. I do not think there is any other IMF student more diligent than Romania and as this international financial institution has just normal budgetary and tax discipline requirements on our country, I do not see why they could not be carried through,' said the president of Consultancy & Financial Investigations.

Sursa: http://www.agerpres.ro

Tags: economy crisis economic romanian positive blanculescu euro