RSS
BNR works on a plan of investment and measures for the next five years which should lead to economic growth of over 5%/year
President Iohannis will present at the end of June a strategy for economic development for the period 2016-2020 which will include acceleration measures for the economic growth from an average of 3% at present to an average of 5% which should ensure real convergence with Western Europe, notes Ziarul Financiar.
At present, according to some sources close to the workgroup which present this strategy a document initiated of 39 pages which has to be sent to other participants to the economic life and social life of Romania for opinions and contributions, zf.com says.
The first announcement about this strategic initiative was made at the beginning of last week when a meeting took place at Cotroceni Palace between president Klaus Iohannis, premier Dacian Ciolos and the governor BNR Mugur Isarescu.
The initiative of creating a strategy for the acceleration of economic growth comes from the National Bank which tries to create the premises for balanced growth, but more rapid than at present so that Romania can adopt euro from a position closer to the EU average as economic development.
It is for the first time when BNR exceeds the position of guarantee of the price stability, of macro-economic stability and banking stability to include a strategy which speaks about real economy. The document speaks about components of the GDP – investments, consumption, net export – and analyses the possibility to boost them in conditions of macroeconomic balance.
There are almost 18-20 sectors for which measures are considered to boost economic growth. According to the National Commission for Prognnosis, economic growth for the next four years will evolve between 4.3 and 4.7% of GDP but the measures to be implemented as a result of this strategy could bring economic growth of over 5%.
What is new if for the first time the National Bank accepts officially that Romania needs an economic growth of over 5% of GDP to reach the western countries. Until now the BNR officials focused on macrostability.At the same time, more recently the fact that an advance of 1% of economic growth for the average of the countrie in the euro zone would be sufficient.
Until now, there have been several rounds of discussion between the National Bank, the representatives of the president, of the ministry of economy and on the part of the Romanian Academy. The draft will be finalised soon, and then it will be sent to the employers’ associations, the trade unions and the leaders of opinion for commentaries and contributions.
President Iohannis wants that through the Ciolos government to launch under debate a strategy for development which should be assumed by everybody, including the political parties.