Currency

Central bank's Isarescu: We should let exchange rate, market function

The national currency has not depreciated in recent months and it is worse than an exaggeration to say that the (national currency) leu is on the bottom of the precipice, the governor of the National Bank of Romania (BNR), Mugur Isarescu told a Thursday's press conference, mentioning that the forint and zloty depreciated more than the leu compared to the euro.

105 million euro surplus in international commerce with live animals, in first semester

Romania exported, in the first six months of 2019, live animals totaling 205.9 million euro, 10.1 pct more than in the similar period of last year, according to data centralized by the National Institute of Statistics. On the other hand, imports of live animals clocked in at 100.6 million euro (+6.8 pct), resulting in a surplus of 105.3 million euro.

Capital controls formally ended

Greece has formally ended the last remaining banking restrictions imposed four years ago during a financial crisis that saw the country nearly crash out of the eurozone.
The decision announced last week took full effect on Monday as limits were lifted on international business transactions, overseas cash withdrawals and money sent to students studying abroad, among other cash curbs.

Funding the economy

One of the scourges of the economic policy adopted by the country's previous administration was the cuts made to the public investments program to make fiscal space for social handouts. On top of its more immediate repercussions, this policy risks leaving a great deal of European funding untapped.

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