Romania's external debt has reached EUR 90 billion, out of which the Romanian state has to pay EUR 18.5 billion, the Romanian Central Bank (BNR)- other EUR 9 billion, while EUR 17 billion stem from the population, according to BNR data.

“Romania's public debt, which has reached EUR 90 billion, is a big problem for Romania. It needs to be paid. Out of this total amount, the state has to pay only EUR 18.5 million; EUR 9 billion is the BNR debt – from a special loan, SOAP- and another part can be found in Romanians' homes. EUR 17 billion went on car purchases. We don't have roads, we don't have highways, but we have cars,” said Vasilescu.

Vasilescu thus explained a recent declaration from BNR Governor Mugur Isarescu, who said EUR 17 billion in debt, part of Romania's external debt, stays in Romanians' homes.

“Romania needs a financial culture because the countries which make it are those that have a habit of saving. Those who don't have it, don't stand a chance in making it. We, however, have a problem from this point of view,” Vasilescu went on.

editor@romania-insider.com