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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

Public finances and the economy: how are we going through corona crisis?

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The economic crisis caused by the coronavirus pandemic has significantly affected the stance of global public finances, following years of solid economic growth, when public budgets have been generally placed on a consolidation path. At the end of 2019, 17 Member States of the European Union recorded budget surpluses. The others, with only one exception, recorded budget

Corona-Economy: From Crisis to Rebuilding Trust

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The Corona-Economy is already the grand economic challenge of the year 2020, but also of the political establishment. The latest developments are very serious, quite worrying for many sectors, which demand a coordinated response in terms of economic policy. The Coronavirus is the “black swan” that sickened the economy, rapidly and at a nearly global scale, like a tsunami

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.

Cosmin Marinescu