Financial Press Review, 16 May

The country‘s emergence out of recession continued to be analyzed from all points of view by the financial press.

’How do analysts annotate 0.6 percent plus per quarter’ the Ziarul Financiar headlined a series of articles revealing that the emergence out of recession was announced by being primarily based on the exports.

Their evolution was ‘directly determined by companies like Dacia, Petrom, Sidex, Alro or Nokia, but these companies do not bring enough profit to support the economy on their own, as they have a limited impact.’

’Duster is the key to growth in the first quarter’,the Ziarul Financiar concluded.

Under the heading ‘Economy emerged from recession, not people’, the Bursa wrote, quoting Professor Daniel Dăianu that ‘the effects of economic recovery cannot possibly be felt in people's pockets this year. There are still many uncertainties concerning the resumption of the economic growth.’

’The economic recovery is selective and limits to certain industries’, the Bursa quoted the General Manager of the Romanian-German Trade Chamber of Commerce and Industry, Marko Walde, which prevented against any euphoria.

‘Romanian Government should observe an incentive to implement concrete measures to promote the economy and to contribute to a sustainable economic growth in the current developments.’

The Curierul Naţional actually opened with the title ‘Did we really emerge out of recession?’

’Only the industry has gone well so far, other sectors were still not fully recovered and therefore they are unable to sustain its economy’, the newspaper quoted Nicolae Chideşciuc, chief economist at ING.

’Also important will be the structure ensuring the economic growth, as the figures themselves do not mean anything’, Adrian Vasilescu, adviser to the BNR Governor, said in the same newspaper.

‘The economy should thus continue its restructuring process, as during the recession it was not sufficiently reformed.’

’Every election year represents high risks in cutting short the reforms, the Capital magazine pointed out.

’Reforming the state-owned companies is even more important as this sector has come to accumulate arrears of about 5 percent of the GDP. (...)

’All this inefficiency is paid by each of us indirectly through the higher prices for various services or products, or through state loans to cover the losses produced by these companies.’

’The Romanian economy can not live solely from exports’, Sorin Minea, president of the Association of Meat Producers pointed out in the Ziarul Financiar.

’I do not deny that there are achievements, but the economy should go as an ensemble, we can not have an economy without the internal market.’

’Agriculture remains Romania’s main problem’, he considered.

’The Romanian market’s addiction to import vegetables can not be reduced too soon, given that sales without a bill is still the most common practice, and farmers who want to develop vegetable business are still in the process of upgrade’, the Săptămâna Financiară disclosed .

’Look at our neighbors. In Hungary, 70 percent of what can be found on the market is from domestic production. In our country is the opposite: 70 percent of vegetables are imported. But they started 15 years before us.’


Translated by: Iulia Florescu
MA Student, MTTLC, Bucharest University