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Romanian finance minister sees no crisis around the corner

Romania is not in the situation of being affected by an economic crisis, according to finance minister Eugen Teodorovici.

2018-04-13 09:54:12

He thinks that local investments should be stimulated and that Romania should reduce its dependency on the European Union (EU), according to Romania-Insider.

"In 2009, I said that we created out own crisis. We weren't in the situation to be so severely affected economically if we hadn't taken those stupid measures, which included cutting salaries. I don't think that Romania is in such a situation or that such a situation will soon come. It's inevitable that there will be some international variations but the idea is that we, as an economy, consolidate and really start public investments and attract private investments so that Romania isn't so dependent on the European Union," Teodorovici said in a TV show, according to local News.ro.

His statement comes after Romania's National Bank (BNR) chief economist Valentin Lazea said on Wednesday, April 11, that Romania has the second highest current account deficit in the EU, after UK, and will be the most exposed European state if an international crisis starts.

Teodorovici also commented on the record inflation in March saying that the inflation rate will likely go down to 3.1% by the end of this year.



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