Romania’s current economic growth is not only robust, but also sustainable and can be durable, said Mugur Isarescu, the governor of the Central Bank.

“If we don’t fail again, it will be a durable growth,” said Isarescu.

The current account deficit has reduced from 14% to less than 1% and the inflation has reached historical lows, below 1%, he added.

The fiscal consolidation effort is among the highest in the EU. It has led to the removal of excessive deficit, and helped Romania reach the medium-term target of a structural deficit of 1% at the end of last year.

“We reached, half-jokingly, half seriously, the first positions among the Eastern European countries which are not members of the eurozone,” Isarescu said.

editor@romania-insider.com