EnglishLucian Croitoru, Advisor to the Governor of the National Bank of Romania (BNR), believes that the ongoing political turmoil is affecting economic variables. "This is visible in the fluctuations on the foreign exchange markets," he said.
The ongoing political crisis is affecting the foreign investors" confidence in Romania and such confidence deficit can have a variety of effects and lead to unfavourable fluctuations in several macroeconomic indicators, Croitoru explained.
"The fall of the Government will jeopardize the agreement with the International Monetary Fund, only if it causes a failure to fulfil the conditions thereby agreed, but I do not expect such turn of events," he said.
National Bank Governor Mugur Isarescu recently said upon taking office on a renewed term that the National Bank of Romania would have to ensure financial stability, price stability as well as the good health of the currency, the lending system and the monetary flows.
Lucian Croitoru believes that the ongoing political crisis is making this mission more difficult on short term. "If political instability causes an increase in the budget deficit and incoherence in implementing the policies, we could have difficulties in achieving compliance with the conditions of the Exchange Rate Mechanism II," Croitoru warned.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
