Inflation is an extremely tricky disease that can occur under ‘n’ shapes, on Monday asserted the National Bank of Romania (BNR)’s governor Mugur Isarescu at the “Inflation in past ten years” conference, adding that the inflationary pressure as well as our deficits are largely structural. “If I were to define now, in front of you, whether the inflation is fiscal, monetary, structural, well, as far as we are concerned and we won’t give in to our illusion that we entirely control it, it is an extremely tricky disease that can occur under ‘n’ shapes. And currently, the inflationary pressure and our deficits are structural to a great extent at micro level as well,” Isarescu said. The drop in the crude oil price will be seen in the inflation rate in the next period, the central bank’s governor added. He assessed that within a week it is possible that a 3.5pct inflation be announced. The BNR governor has also referred to the budget drafting for 2019 and said that from his prime minister experience this process is “a fussy arithmetic”. “Our budget construction is a fussy arithmetic. I have known it ever since 2000 when I used to be Prime minister. We had back then 32pct of the GDP [budget revenues, ed. n.] and they used to come to me, systematically, the Finance minister, with demands of budget spending varying between 40pct and 50pct of the GDP. And that was all about negotiation. Where was I supposed to cut so as to have 32pct instead of 40pct in deficit. Is this a macroeconomic balance philosophy? And they used to resort to various kinds of tricks so that each could obtain a large chunk of the spending,” Mugur Isarescu underlined. BNR maintained the inflation prognosis for this year’s end at 3.5pct and raised at 2.9pct, from 2.7pct the prognosis for the next year, on Thursday announced the BNR head, when presenting the Quarterly Report on Inflation.  
The post Central bank’s governor: Inflation, very tricky disease, can occur under ‘n’ shapes appeared first on Nine O' Clock.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
