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Isărescu: Stimulating consumer spending is a bad idea
24.02.2011, 00:07 | Economy | 858 views
Entrepreneurs, company managers and bankers who see stimulating consumer spending as a solution to bring the economy out of the crisis had a "bad idea", says Mugur Isărescu, governor of the NBR (National Bank of Romania). After two years of declining GDP, he says Romanians should not start spending, as Prime Minister Emil Boc was suggesting recently, but work. "Stimulating consumption to have economic growth can only be deemed a bad idea. But we cannot put it into practice. (...) Romanians have to be encouraged to work," the head of the NBR said yesterday. Read more on ZF.ro
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