September 24, 2018

Bank interest rates on a downward trend in Romania

These days, bank interest rates are seeing a downward trend in Romania. Meanwhile, crediting is almost blocked. According to bankers, the resumption of individual crediting can be done only after a few successive quarters of steady economic growth followed by the banks’ major involvement in crediting companies. Romania has the chance of registering an economic growth of 2% this year, way above the initial forecast; bankers describe that as a substantial crediting boost. Such an incentive is a must, bankers explain, because the currently stalled crediting operations cannot be resumed in the absence of sustainable economic growth. But according to non-banking pundits, no sustainable growth can be achieved without a resuscitated crediting activity. Solutions are needed in order to overcome a situation like this, says Adrian Vasilescu, advisor of the Central Bank governor. In his opinion, the positive dynamics of bank loaning cannot be achieved without the crediting of various businesses.
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