Romania rages war on inflation

Romania's central bank has moved to reassure investors concerned about rising inflation…

After the leu recently fell15% against the Euro, the Bank’s Governor Mugur Isarescu, explained: "The central bank is doing all it can to tackle resulting economic problems Investors need to know that the central bank will work with all intelligence to diminish any negative effects”.
 
His comments come as one euro is currently equivalent to 36,095 leu after the Romanian currency hit a five-year high against the euro in July this year. Some experts have reportedly called on the government to tighten fiscal and wage policies as a move to boost economic productivity and competitiveness, the article notes.

According to The Economist, gross domestic product (GDP) growth for the Romanian economy is predicted to be 5.8% this year .