Romanian News brief: January 19th, 2020
Romania’s National Bank (BNR) decided to keep the monetary policy (refinancing) rate at 2.5%, in its board meeting on January 8, a decision aimed at achieving “sustainable economic growth”, among others. The new Government’s gradual approach to the fiscal consolidation is “decent but not enough,” BNR governor Mugur Isarescu (picture) stated in the
press conference after the board meeting.
He implied that the Government should abstain from hiking the pensions by 40% in September, as planned by the previous Government. “Let’s be serious. There is only one solution, and this is a political one. When the economy grows by 4%, one can’t raise something by 40%,” the central bank governor stressed.