Burden Of Euro Loans Becomes Unbearable For The New Exchange Rate Level

07.25.2012 By Claudia Medrega

Romanians are stifled by euro loans, cut consumption, while companies count their losses. The depreciation of the leu by 7.4% against the euro this year increases the bills of the population and of companies with loans in foreign currency, puts more pressure on banks’ balance sheets, makes imports more expensive, and can cause consumption to decline and revenues from VAT and excises to dwindle.

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Keywords:
BNR
, CENTRAL BANK
, EXCHANGE RATE
, EURO