Isărescu is now optimistic: This is the beginning of a new cycle of growth

Mugur Isărescu, Governor of the NBR, has become extremely optimistic about the trend of the economy, announcing he expects Romania to post 4-5% growth next year, and 1.5% growth this year. He says the Romanian economy is currently stabilised and ready for a new cycle of "sustainable" growth.

"If investments in agriculture are carried out and if the absorption of EU funds is higher, if investments are made in infrastructure, there may be a surprise for us in store, an increase in excess of 1.5%, while for next year, just as our international lenders, the EU, the IMF, the World Bank, we are targeting growth of between 4 and 5%. Exports are going well and we will continue to stimulate them. The faster growth of exports than of imports will be the proof that this country is restructuring its economy and that growth will be sustainable, not just a flash in the pan," said Mugur Isărescu before Arab and Romanian investors present at the Forum of the Gulf Cooperation Council held in Romania.

The entire business community and the political class are expecting to see what happens to the economy in the first quarter, because if it experiences growth against the fourth quarter of 2010, Romania is technically out of recession (with two consecutive quarters of growth). Isărescu has delivered his most optimistic speech in the past year in front of investors and the business sector, saying the economy has seen enough corrections, starting from the current account deficit to the budget deficit.