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Central Bank Governor warns Romania's economic growth too rapid

The Governor of the National Bank of Romania (BNR) Mugur Isarescu on Thursday warned Romania's economic growth is too rapid, which, in his opinion, might lead to macro instability.

“There is a big chance that Romania witnesses rapid economic growth over the next ten years. We have to be careful that economic growth should not affect macro stability,” Isarescu said at a Southeastern European Financial Seminar.

In his opinion, “a lack of patience and clear vision” might prevent Romania from fulfilling its goals. “One should drive a car not only with one foot on the accelerator but with one foot on the brake as well,” he said. According to BNR surveys, Romania reported a 7.7% economic growth in 2006 and 4.1% growth in 2005. (