Petrișor Peiu accuses BNR and the Government of not fighting inflation

The leader of the AUR senators, Petrișor Peiu, accuses the BNR and the Government of not fighting inflation. What does the politician say about the „BNR’s Witchcraft”.

Petrișor Peiu declared on Tuesday that the exchange rate is starting to moderate, but the depreciation of the leu has nothing to do with the motion of censure, just as the moderation of the exchange rate has nothing to do with the current interim government.

However, Peiu states that, in the last five years, Romania has had a cumulative inflation rate of over 62%, but the exchange rate has depreciated by only 5.68%: “BNR’s magic lies in the fact that, after the inflation explosion in 2022, it raised the intervention interest rate to 7% and, after a year and a half, lowered it to 6.5%, where it has been for two years.”

The leader of the AUR senators mentions that, in the last year, the inflation rate has risen from approximately 5.6% to over 10%, but the intervention interest rate has remained at 6.5%. In this context, he states that the NBR and the Government are not fighting inflation, which is “the main and only economic policy of the Romanian state,” because “inflation decreases the budget deficit and reduces the debt share in GDP,” but “it decreases purchasing power and kills economic growth.”

Petrișor Peiu also states that any domestic production was killed by the fixed exchange rate, which largely favors imports, and „BNR shares with the government the responsibility for the stagflation they created and maintain.”