Vosganian indicated in a round table on Romania’s business agenda for the coming four years, organized by “Ziarul Financiar,” that tax collection problems date back to mid-October. The President of Raiffeisen Bank, Steven van Groningen, confirmed that banks are more cautious when granting loans. “In these current conditions, we can no longer continue this way, and this is not a good time for banks to increase their loan exposure,” said van Groningen. He added that the cost of loans in Romania will continue to rise, because this country is now seen as risky. Vosganian further explained that Romania requires financing worth RON 5-6 billion (€1.3-€1.9 bln) by the end of the year, funds it can obtain either from the reserves of the Ministry of Economy and Finance (MEF), or from other sources.
The Minister also explained that Romanian investments in 2008 have reached €27 billion and that “there is no sign that these will drop in coming years. Romania must stimulate investments, especially domestic ones, in energy and the attraction of European funds.”
