Governor Isarescu: The instability and political tensions can’t help

Newsroom 07/02/2017 | 16:27

The governor of the National Bank of Romania (BNR), Mugur Isarescu, claims the economy stays on  its own course, but it shouldn’t be tested. His comments were made on Tuesday, amid ongoing political tensions triggered by massive street protests in the past week.

“The instability and the political tensions can’t help,” said the governor.

Speaking  about the public budget framework for 2017, which was approved on Tuesday by the Parliament, Isarescu said that it was rather “optimistic” in terms of expenses and “ambitious” in relation to the revenues.

Furthermore, the governor described as “fair” the decision of the Constitutional Court, which ruled out that the draft bill for the conversion of Swiss francs loans at the historical rate was unconstitutional.

The BNR decided on Tuesday to maintain the monetary policy rate at 1.75 percent.

The latest updates from the political scene show that PM Sorin Grindeanu does not plan to step down, while the head of the Social Democratic Party (PSD), Liviu Dragnea, said that the ruling coalition does not plan to suspend president Klaus Iohannis.

Iohannis said he will call for a referendum on Romania’s anti-corruption efforts shortly after receiving the approval of the Parliament.

Ovidiu Posirca

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