The economy is doing better than we read in the newspapers or see on TV, and Romania is at an important moment when it can make choices about its development objectives, Sergiu Manea, CEO of Banca Comerciala Romana (BCR), said on Tuesday.

„I remember someone telling me during the pandemic: Sergiu you very nicely come and say let’s do it, let’s be careful to wear masks, maybe we can get vaccinated, it’s everyone’s decision, and when we get home in the evening we see it completely the opposite on TV. And I said „Well, I’m sorry to disturb you, but I don’t have any other support. I can say that even now. The economy actually does better than what we see on TV today. I think we are at a rather important moment in making choices. And it’s about choices. What is strategic, where we want to grow, where we want to develop. So, this is a topic. And the other topic, I think it’s time for the multiple business communities to come together and, eventually, to try to make proposals and crystallize ideas for increasing the competitiveness of our country. I think there are a few dozen companies in Romania that, in my opinion, have truly national values and I also think that they have everything they need for regional expansion,” Sergiu Manea said at the ZF Bankers Summit’s 12th edition.

Asked about the evolution of interest rates, he said that they „will fall well, but more slowly than we expect.”
For the end of the year, the bank estimates an inflation of 4.2% and a monetary policy interest rate of 6 – 6.25%.

BCR also estimates that Romania will register an economic growth of 2.6%.

AGERPRES