The giving-in-payment law and the law on the conversion of loans in Swiss francs into local currency RON currently pose lower risk than last year for Romania’s financial stability, said Liviu Voinea, deputy governor of the Romanian National Bank (BNR).

“The Constitutional Court has determined that the giving-in-payment law and the conversion law will not affect the banking activity (...). They are, still, some risks, but lower compared to 2015,” Voinea explained.

Last year, BNR considered the two laws posed “severe systemic risks”, whereas now the risks are high but not severe.

Another risk to the financial stability, but without an extreme intensity, comes from the “uncertainty of the budgetary structure” in the context of political changes these days. However, international risks are on the rise, according to the central bank.

Overall, the BNR data shows that the economic growth is sustainable, because imports have grown at a slower rate than domestic consumption.

editor@romania-insider.com