A return to basic economic business principles will tame the crisis, says Petrom's CEO

Mariana Gheorghe the chief executive of the largest domestic company - Petrom, believes Romania is sheltered from the financial crisis because of the level of cautiousness the banking sector was built around.

At the same time, Petrom's CEO says that it was time all corporations returned to economic and financial fundamentals; to healthy lending and investments and cash-flow scheduling policies in order to offset the effects of the international crisis.

"We are part of globalisation, but I believe the financial and economic sector has the power to reduce risks and negative impact. This means healthy lending and an investment and cash-flow scheduling policy, a return to the economic and financial fundamentals. We relied on a solid, healthy growth and I believe everyone has to go back to these company management basics.

The euphoria of the good times must not make you forget you need to prepare for those harsher times," says Mariana Gheorghe, Petrom CEO. She believes that under the current global circumstances, Romania is in a somewhat privileged position, especially because of the stability of the banking sector.

Ziarul financiar