CEO of Romania’s largest bank expects macro indicators to improve by year-end

"The perception of Romania by foreign investors will be influenced in 2008 by inflation, GDP growth, budget expenditure, and the evolution of the leu. I see an improvement of these indicators in the second part of the year," Wimmer said.

He believes that Romania's positive evolution will be based on a good agricultural year and industrial production growth in areas where investments have been made in past years. "I believe that those implementing medium and long-term strategies in Romania stand to gain the most," Wimmer added. He is optimistic about the banking business in 2008, saying that the reaction of financial markets is disproportionate with events. "In times of trouble, financial markets tend to overreact," said the CEO of BCR.

Wimmer said that even if certain macro indicators brought negative surprises regionally, the year 2008 will be one of economic growth. "Among positive factors in Europe are a higher number of employees, a solid financial position of households and companies, high profit rates and production factors used by companies. Negative factors include a slowdown of US economic growth and the dollar rate, which make European exports more expensive, even if the Eurozone still generates consistent exports compared to imports," Wimmer added.