BNR's Croitoru: National Development Fund to create corruption due to its nature

The National Development Fund will create corruption due to its nature and will bring nothing good, said on Tuesday Lucian Croitoru, advisor to the Governor of the National Bank of Romania (BNR).

"We are now preparing to create a mammoth institution called the National Development Fund, which is a massive intervention of the Government in the economy. It will bring nothing good, we know from the experience of other countries. It will inevitably create corruption around it, not because of the people who will head it, not because of those who conceived it, but because of its nature," Croitoru said.

He said that if you want to use public power correctly, you have to take into account that government interventions in the economy generate corruption.

"If you want to use public power correctly and not get private benefits with it, then you have to take into account that government interventions in the economy generate corruption, and unintelligent regulations create areas of activity outside the regulated sphere," the BNR official explained.