According to an NBR report, Romanian economy is in shock

The shock induced by the depreciation of the exchange rate and by the rise of interest rates on loans is placing companies and the population in a more difficult situation than anticipated by the National Bank in its most pessimistic shock scenario taken into account in the 2008 Report on Financial Stability. In order to evaluate how the banking system would deal with an exogenous shock, the NBR considered an exchange rate depreciation by 20% and 30% respectively, which it described as exogenous shocks. Since the exchange rate has already depreciated by 39% against the exchange rate considered in the report, it means the economy is already experiencing a state of shock generated by the exchange rate, which is even worsen than the one tested in the report. The National Bank publishes a yearly Report on Financial Stability, where it basically analyses the state of the entire economy. In its report, the central bank evaluates the impact that shocks could have on companies and on the population, and how they would later affect the banks’ solidity.