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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.

 

A speech presented in the opening part of the conference “Romania and the OECD. Present and Future Projections” – an event organised on 18 May, at the National Bank of Romania.

 

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Cosmin Marinescu