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Wednesday, September 01, 2004
Business in Romania blog
Hi,

One of the people I appreciate most in Romania is NBR's Governor, mr. Mugur Isarescu. I believe he is one of the few that managed to do a great job with the NBR, with very low (or none) political influence.

And this is again confirmed by his latest statement, regarding the inflation rate for 2004. This is from the Ziarul Financial financial newspaper:

"In July, the increase in inflation was more significant due to necessary
corrections of utility prices, which were not offset by decreases in the prices
of agricultural products. We hadn't expected this latter occurrence, but the
July evolution has been taken into account. Despite this higher increase in
July, the inflation rate after the first seven months of this year is still below
what the NBR had anticipated at the beginning of this year, by almost one
percentage point. We think inflation will be lower in August and therefore even
though there might be some peaks, we will not go beyond the 9% target this year,
December-to-December, and will register inflation of 6-7% in 2005", Isarescu
stated.

I would like to congratulate him and his team for this succes and I really hope he meets that 9% target.

Mihai.

Posted by Mihai Botea : 9/01/2004 10:29:00 am Romania Inflation target at 9%
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