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Patrick Gelin, BRD CEO: “Worries over the trade balance are exaggerated”

Romania must increase its capacity of handling the changes needed for its development, Patrick Gelin, the president of the Foreign Investors Council (CIS) and CEO of Groupe Societe Generale (BRD), said in The Report: Romania 2008, published by the Oxford Business Group (OBG), a publishing, research and consulting group.

The reports are known as main sources of information for developing economies, Rompres reports. He also described the problems surrounding the current account as normal, as they also happened in Poland and Hungary in the wake of accession. “At the end of the day, my concern is the administrative capacity of this country and politics tending to outshine economy,” the CIS president said. In Gelin’s view, the worries over the trade balance are exaggerated. “If we examine the current account, we notice that a significant portion of it is due to the rising prices of energy and imports of raw materials. Both have posed too small a threat to the economy in general. On the other hand, there has been noted a fair amount of fixed assets and major industrial equipment,” the CIS president said in The Report. This is extremely important for Romania and its effects have already become visible, Patrick Gelin holds. Sursa: http://www.nineoclock.ro

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