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Anghel (BVB): Romania's economic outlook must worry us; we must stop thinking in terms of enclaves
The sharp fall in the stock market, signaled last year, shows that the economic outlook in Romania must worry us, and in order to avoid the irreversible problems in the economy, we must stop thinking in terms of sides and enclaves, Lucian Anghel, President of the Bucharest Stock Exchange (BVB) told a Monday's specialist event.
Anghel said that in order not to have irreversible problems in the national economy, "we should stop thinking in terms of sides and enclaves," and the politics and economy should make an alliance to enter the world Group.
"We have to stop thinking in terms of sides and enclaves, otherwise we will have irreversible problems in the economy. If we decide together to pull our resources, we will make a lasting alliance. Politics and the economy should make an alliance to enter the world Group. The package for Romania's prosperity is the solution and we must build Romania's prosperity through political and economic collaboration. We must say speak up that the private milieu in Romania generates almost 80pct of GDP. We are not talking about the turnover but about the added value. Therefore, if we want prosperity in this country, the private milieu must not be ignored and in partnership with the political milieu it must be encouraged," Anghel said.
The BVB President also underlined that Romania needs financial education because otherwise there will be problems.
"Unfortunately, as with health, we value financial education the most when we do not have it. Romania ranks last in Europe in terms of financial education. Rwanda and Chad have better financial education than Romania. The lack of this financial education will pull us down and we will fail to reach our potential. It is very difficult for a youth at their first job to understand now that when they retire, there will be 1.5 pensioners per one employee in Romania. It is essential for all of us to do more for the enhancement of the financial development level. If not us, then who?," said the BVB representative.
The Bucharest Stock Exchange (BVB) is organizing on Monday the first edition of the International Summit on "The Romanian Capital Market - Evolution and Outlook".