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September 25, 2021

BNR Governor: Romania does not need spectacular recovery

Mugur Isarescu, Romanian central bank governor, said in a Financial Times interview that he was concerned not to let the national currency appreciate too far, which would discourage export-led recovery. “We do not need a spectacular recovery,” he warned, referring projections that the economy would grow by 1.3 per cent this year.

In a separate interview, PM Emil Boc told Romania will push ahead with tough reforms in order to meet obligations to international creditors, but does not want to raise taxes on business. Romanian taxes are among the lowest in the EU and some economists question whether efforts to combat tax evasion will suffice as rising unemployment puts further pressure on the budget.

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