We risk making the same mistake as before the crisis, warns the Fiscal Council. Domestic supply increases by 3.7 pc, consumer demand is almost double

Romania’s domestic supply increases by 3.7%, while the consumer demand is almost double, which will create an imbalance and we risk making the same mistake as before the crisis, albeit at a different level, said on Tuesday Ionut Dumitru, chairman of the Fiscal Council, during a specialized debate.
“If we look at the composition of growth, at the domestic demand side, we see that the acceleration is strong on the private consumption, where we already see figures in the third quarter with an increase of 6.6% in real terms. So, we are talking about an economic growth of 3.7%. We have a domestic supply growth of 3.7% and a consumer demand that is already growing by 6.6%, almost double. We are already talking about an imbalance that seems to prefigure and at another scale we seem to repeat the same mistake as before the crisis, when the economy grew by 7% and the consumption grew by 10-12%,” explained Dumitru.
According to the chairman of the Fiscal Council, Romania could be affected by the state of the global economy, which recorded a slowdown lately.
The most important players in the banking system and the players on the business market participate on Tuesday to a conference on ‘Lessons learned during the crisis years’, an event supported by the Romanian Banking Association (ARB).