Central Bank Governor: We don't need a spectacular recovery

„We don’t need a spectacular recovery”, Romanian Central Bank (BNR) Governor declared to Financial Times reporters, addressing the rather modest estimates regarding Romania’s economic growth in 2010. According to the quoted newspaper, Isarescu tagged himself as „preoccupied” to not allow the national currency – the leu – appreciate too much in order to affect exports – the future economic growth engine.

FT reporters also talked with Romanian PM Emil Boc. The Romanian PM told them that the economic correction measures that the Government was considering were absolutely necessary to reinstate economic growth. „I know hat not all measures are popular, but they are for Romania’s well being”.

According to the Romanian National Institute of Statistics (INS), Romania’s economic contraction last year has been 7.1%. The same figures for Q4 read 6.5% against Q4 in 2008.