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Paun, Cristian

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2 articles of this author have been cited in the European Press Review so far.

Contributors - Romania | 17/02/2014

Sun and rain help Romania's economy

The Romanian statistics office announced at the end of last week that the country's economy grew by 3.5 percent in 2013, a record for the last five years. However the growth isn't the result of policies implemented by the Ponta government, the economist Cristian Paun writes in the blog portal "This growth is merely due to a very good year for agriculture. It rained a lot last year, and there was also plenty of sun. In an economy where ten percent of the GDP depends on agriculture (five times more than the average for EU industrialised states), that is an important requirement. But the government didn't order the rain and sun. ... If 2014 can't match 2013 in terms of agricultural production, we could well fall into recession, at least for one quarter."

Contributors - Romania | 06/02/2014

Loan scheme for Romanians pure nonsense

The Romanian government is planning a scheme to help low-income earners repay their loans. Under certain circumstances borrowers would be able to defer repayment for a two-year period. Writing in the blog portal Contributors, economist Cristian Paun thinks little of the idea that would apply to just under a million Romanians: "The problem is that Romanians are far too poor to pay back their loans. They are poor because they lost their jobs or their salaries were slashed - after the domestic market collapsed due to the economic policies of the IMF. Romania has the highest rate of non-repaid private loans in Europe, more than Greece, even. ... Now the government and the central bank, bossed around by the IMF, have come up with a bizarre solution meant to kill two birds with one stone by helping the banks while winning votes. And it's supposed to fuel consumption, and perhaps even increase the number of bank loans. A dodgy calculation that does not bode well for the country."

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