The Difficult Task of Maintaining Credibility
During the past two years the main features of the Romanian economy were the strong economic growth and the presence of a relatively high surplus on the foreign exchange market. Among the direct consequences of that surplus were the gradually declining depreciation rate, the tendency towards real ap...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
European Institute of Romania
2003-07-01
|
| Series: | Romanian Journal of European Affairs |
| Subjects: | |
| Online Access: | https://rjea.ier.gov.ro/wp-content/uploads/articole/RJEA_Vol3_No2_The_Difficult_Task_of_Maintaining_Credibility.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | During the past two years the main features of the Romanian economy were the strong economic growth and the presence of a relatively high surplus on the foreign exchange market. Among the direct consequences of that surplus were the gradually declining depreciation rate, the tendency towards real appreciation of the leu against the euro-USD basket as compared to 2000, the generalization of anticipations regarding that appreciation and the decreases in the interest rates. The decreases in the interest rates and elimination of the well-known costs of high and volatile inflation brought about important benefits in terms of economic growth. Indeed, the lower inflation stimulated investments by contributing to the extension of decision-making horizons. Is it possible to repeat the same trend also in 2003? |
|---|---|
| ISSN: | 1582-8271 1841-4273 |