Loading ...The economy will be taken out of the crisis by the private sector, the one that created this crisis by its decisions, Lucian Croitoru, advisor to the National Bank of Romania (BNR) governor told a financial forum on Thursday.
‘The crisis was necessary. It should correct several things. The crisis shows us what must be changed. The private sector, that pushed the economy into crisis by its decisions is the one that will take it out.
That is the engine. The state can eliminate the regulations that put a break on this thing or push it to a wrong direction.
It is mere illusion for someone to think that the state is the one that should take the economy out of the crisis. The main engine is private innovation’, Croitoru stressed.
However, the private sector expects too much public aid, he added. ‘The government has done its duty, there is no need for new stimulating packages’, the central bank official said.
Under the current circumstances, Croitoru said, it is important that the interest rates drop at high speed; such speed is ‘crucial’ to the economy, he added.
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