Croitoru, BNR: Romanian economy will not recover until 2016

The growth potential deficit of the Romanian economy will last until 2016, Lucian Croitoru, advisor of the BNR governor appreciated yesterday, in a macroeconomic analysis, quoted by “The economy could grow at this pace of 2 pc, but this does not mean it will reach its potential with effects upon inflation and unemployment. The economy of Europe operates much under its potential, and the American economy too operates way under potential. Romania’s economy cannot react differently,” Croitoru said during the EU-COFILE seminar organised in Sinaia by Alpha Bank, the National Bank and the Romanian Banking Association. According to Croitoru, “the annual loss of GDP potential amounted to EUR 1.1 bln in Romania, starting 2009.”On the other hand, the adviser of Governor Mugur Isarescu explained that fiscal discipline is necessary in order to have capital inflows. “One must be disciplined at home, in fiscal terms. You saw how much money there is in Europe, and if you have fiscal discipline this money will come here sooner or later,” Croitoru said.

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