Governor, National Bank of Romania Mugur Isarescu of Romania
Referring to the current account deficit, as a reflection of the macroeconomic skidding felt since as early as last summer, Mugur Isarescu said the problem is the way it is financed, rather than its sheer size.
Governor Mugur Isarescu took part on Wednesday in a workshop on The National Bank of Romania Archives.
Governor of the National Bank of Romania (BNR) Mugur Isarescu deems that the incumbent economic crisis which affects at present the international markets will not lead to the diminution of the inflationist pressures and Romania has to continue the structural reforms that should lead to the curbing of the current account deficit.
Governor Isarescu said that Romania has to curb the current account deficit, considering the lack of balance is no longer accepted, allowing for the fact that the current account deficit reached 20 billion euros, two thirds of the GDP in 2000.
The Romanian National Bank (BNR) will support the Government's budget projections, aimed at maintaining an economic growth mix and ensuring the country's stability, against the international economic downturn, BNR governor Mugur Isarescu said on Thursday, after meeting Premier Emil Boc at the Central Bank's headquarters.
Early this year Isarescu had consultations with the Finance Minister Gheorghe Popa, aimed at harmonizing the joint measures and completing the macroeconomic indicator forecast for 2009, to found the budget.
Mugur Isarescu is keen to underline the importance of the reforms the central bank went through: What we need are strong institutions, with good reputation, and this institution is going to be one of them.
As soon as this support group, which represents a significant part of our civic society, gathers the signatures required by law, I will officially announce my candidacy for the presidency and my campaign programme," Isarescu said in a letter released by his support group.
Isarescu is competent and able to solve the difficult issues posed by Romania's transition towards a free-market, democratic system," Manolescu told Reuters.
Isarescu has pledged to tame inflation and keep the economy on a recovery course this year, after three straight years of decline, and to pursue the medium-term reform programme he cleared with the European Union in March, when Romania started accession talks with the 15-nation bloc.
Isarescu said the inflation rate would rise due to an increase in energy prices and taxed products.
died out under communist dictator Nicolae Ceausescu.
the year he served as prime minister.
capital city, county/regional councils.
Isarescu expressed concerns the planned adoption of the euro in 2014 will not be possible 'if inflation does not fall in a sustainable way in 2008 and 2009', he said, according to Mediafax.
6% from its previous prediction,Governor Mugur Isarescu said on Thursday.
What we need to clearly fight against inflation is not to rely just on monetary policy, which is already overburdened,” Isarescu said in an interview in this northern Greek city.
It could really overturn our inflation target, Isarescu said yesterday.
Mugur Isarescu said year-to-year inflation in July fell to 6.
Isarescu said his August inflation projection of 6-6.
As can be seen above, in the few days the fall seems to have been brought to at least a temporary halt after central bank Governor Mugur Isarescu said sharp swings in the exchange rate can harm the country's economy and indicated the possibity of a further tightening of monetary policy to address the inflation problem.
But Isarescu has also warned about the sharp rise in indebtedness and the limits to conventional monetary policy in the current environment.
Prime minister Mugur Isarescu met on Thursday evening the ApR leaders.