BNR deputy governor: Romania’s financing need reaches 9% of GDP

Romania’s financing need currently amounts to 9% of the gross domestic product (GDP), said Romania’s National Bank deputy governor Liviu Voinea. He spoke at the Central Eastern European Forum in Vienna, organized by Euromoney. According to the latest financial stability report, the external factors pose a risk to the country’s financial stability, Voinea said, reports local Agerpres. He mentioned Brexit, the elections in several European countries, which could affect both the economic growth and the inflation. “We grow by about 5% per year, at least last year, which is over the potential, but it’s not unsustainable,” the deputy governor said. He added that only the current account deficit recorded a moderate deterioration. In terms of inflation, Romania had a negative one last year due to the VAT cut. The public debt went below 40% of the GDP, namely 38%. “Overall, it’s a good macroeconomic image,” Voinea concluded. editor@romania-insider.com