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The Council for Economic Programming: the economic gap between the counties of Romania deepened between 2000 - 2014
The economic gaps between the counties of Romania deepened between 2000 – 2014, and between the regions in Central Europe andEastern Europe (ECE) reduced, says a document of the Council for Economic Programming, published on the site of the National Commission for Prognosis (CNP).
‘Between the counties of Romania there has taken place a process of deepening of the economic gaps between 2000 – 2014. At the same time,between the regions in the ECE area, the economic gaps were reduced between 2000 – 2015. These evolutions can be explained through the convergence of the most performing regions of Romania at the average of ECE’ the quoted source says.
According to it, the regional convergence is a slow process.
The document speaks about the benefits and costs of accession to the euro zone.As benefits there is mentioned growth of 5-10% of the exports and significant drops of the interests for the countries with a history of high inflation before the economic crisis. It is said that the low interests contributed to the crisis of debts.
Other benefits, according to the document, are the growth of resistance to foreign shocks, the reduction of the cost of capital and the growth of foreign direct investments and ‘ the estimated effecto on ISD in the countries in the euro zone (EA11) was of 17%’.
As regards costs, there are mentioned the loss of policy of exchange rate, the policy of single currency, the limitation of the role of central banks, uncertainties regarding the functioning of the Eurozone and the accumulation of imbalances.