The future economic situation will depend mainly on developments in public health and their succession, and the EU recovery package from the COVID-19 crisis will certainly have an important contribution in supporting our recovery efforts, says the governor of the National Bank of Romania, Mugur Isărescu.

“The future economic situation will depend mainly on developments in public health and their succession. To this end, we will continue to monitor and update our assessments of the state of the economy and the public health situation and channel measures towards providing the necessary liquidity and maintaining financial stability, as well as ensuring a sustainable downward trend in interest rates. As cooperation with the Government is important, we will continue to work together to ensure a quick recovery of the economy from the current situation. Also, the EU package for recovery from the COVID-19 crisis will certainly have an important contribution in supporting our relaunch efforts,” Mugur Isărescu was quoted as saying by Agerpres.

He noted that the NBR is ready to fulfill its role, reiterating its gratitude for those at the forefront of the fight against the pandemic. “However, in the long run, the only viable option is to return to a ‘normal’ conduct of monetary policy, but we are all aware that the new normality will be somewhat different from the past. For this, we intend to intervene gradually, constantly adapting to the constantly changing environment, but respecting the legal framework,” said Mugur Isărescu.