RSS
Georgescu (BNR): the development is slower than the economic growth due to the poor quality of growth
Development in Romania is slower than the economic growth due to the relatively poor quality of growth over the last four years, the GDP growing 14 times and the indicator of the human development only by 12,2% shows a presentation of the prime-vicegovernor BNR Florin Georgescu.’Development in Romania is slower than economic growth due to the relatively poor quality of growth (structural issues in the real economy, the main force for the creation of GDP and of the deficiencies in GDP share) made more difficult by the blocking of the channels of primary and secondary distribution as an effect of the financial indiscipline and the illegalities in society. As for distribution there is a disproportionate rate between salaries and profit in favour of the last, as for redistribution there is insufficiency of financial transfers and social assistance, and within the budget due to the poor collection of taxes’ the document says.
Georgescu says that while in the last 15 years the GDP increased four times and GDP per inhabitant increased 2.3 times, the indicator for human development increased only 12.2%.
The indicator for human development is a static composite indicator with values between 0 and 1, determined on the basisof the life expectancy, the level of education and the income per inhabitant.