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November 29, 2022

PM Ciuca: Romania is not facing any danger of economic recession

Prime Minister Nicolae Ciuca on Tuesday stated that Romania is not in danger of entering an economic recession, with the data so far showing very clearly that there is a premise that at the end of the year our country will have an economic growth of 5%.

“Recession has been talked about since the beginning of the year. There were signals throughout the year, we could see from our own experience that we had a decrease in growth rate due to the impact that the drought had on agricultural production, and you can definitely see these consequences in the percentage of economic growth in the 3rd quarter and we will probably feel this effect in the 4th quarter as well. As such, we are prepared. That is why I said that we have taken measures so that we can strengthen the economy, keep it in balance, so that we don’t go into recession. The data we have at the moment shows us very clearly that there is a premise that at the end of the year Romania will have an economic growth of around 5%, while for next year all the institutions, including the European ones, they predicted an economic growth for us – let’s not say close to 2 percent – around 1.5 percent, which still means economic growth. So, Romania is not in danger of entering an economic recession,” said the PM at the Parliament Palace.

He added that the economic situation also depends on the economies of the other countries with which Romania collaborates.

“We are not alone in this, we depend a lot on what happens with the other economies with which our country is in close collaboration and then we will also feel these effects. It is very important that at the level of the Government, through the measures we take, on the one hand, we protect the vulnerable population, on the other hand we ensure the competitiveness of Romanian products. That is why we also took the measures of maintaining those energy prices at consumption levels, for SMEs, for large consumers, in order to be able to ensure competitiveness on the market for Romanian products, because by producing and selling we manage to maintain the economy,” he said, according to Agerpres.


Photo: www.gov.ro

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