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Romania’s Economy in Graphs: Performance, Risks, Challenges | 11 martie 2018 | Romania reached a record economic growth in 2017, yet one that was mainly based on consumption. The contribution of investment became positive, but investment levels

Romania’s Economy in Graphs: Performance, Risks, Challenges

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Romania reached a record economic growth in 2017, one that was mainly based on consumption. The contribution of investment became positive, but investment factor is still low and can affect sustainable economic growth in the medium and long run. The current macroeconomic context is one of contrasts, because record economic growth and high budget deficits are abnormally 

Between policies and crises: flow and reflow in monetary policy

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It is more and more obvious that economic policies are not only anti-cyclical, as theory indicates us they should be. Very often, for various reasons, usually political ones, economic policies end up rather deepening the cyclical fluctuations of the economy instead of mitigating them. In this context, economic policy becomes strongly pro-cyclical, and this is valid both for monetary

Economic Challenges in the Context of Convergence

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The economic crisis showed us that pro-cyclical policies, which Romania was also seduced by, make the recovery more painful. This is why it is important to discuss openly if and why is it worth creating big deficits exactly when the economic situation is good, instead of preserving fiscal space for “hard times”, when the economic expansion will be exhausted.

Decrease taxes, increase spending!, doesn’t feel as sound economic policy

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In the past years, almost everything related to economics and economic debate was built on tax initiatives. But economic performance does not simply emerge, by itself, only through changes in taxes. It needs structural accumulation, concrete rules and credibility for the well-functioning of markets, competitively and predictability for the business environment,

In economic policy, policymakers must learn from previous mistakes

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surselecresteriiIt is important that policymakers are aware of previous mistakes and responsible when it comes to economic policy. In the economy, resources are limited, and that’s the reason why we can’t afford to have all at once. National fiscal policies, although they benefit from Parliament’s support, are sometimes against the rules of fiscal governance, which were also adopted by the

Cosmin Marinescu