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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 Parliament. After the economic crisis, Romania was a champion in Europe when it comes to the increase of public debt, which almost tripled compared to its 2008 value, while the deficit target was saved, in recent years, by the lack of public investment.

Cosmin Marinescu