The National Bank of Romania will
\nmeet its 2 goals for this year, namely price stability and financial stability,
\nthe central bank governor Mugur Isarescu said on Monday, when he presented a
\nReport on Financial Stability. He explained that the consumer price index would
\nget within the 2.5% range forecast by the National Bank.<\/p>\n
<\/p>\n
\n
<\/p>\n
On the other hand, Mugur Isarescu
\nsaid that the switch to the euro is a major goal, which may act as a catalyst
\nof positive changes in the country. The National Bank official added that the
\nGDP gap between Romania and other EU member countries has narrowed
\nconsiderably. Thus, the purchasing power parity GDP per capita has increased
\nfrom 40% of the EU average in 2007 to over 60%. But, according to Mugur
\nIsarescu, although Romania has made some progress, it still has a long way to
\ngo to a smooth integration in the circuit of European values:<\/p>\n
<\/p>\n
\n
<\/p>\n
Nearly 12 years since Romania
\njoined the European Union, the progress made by the Romanian society is utterly
\nremarkable. It is the fastest real convergence pace among the newer EU member
\nstates. This is a remarkable performance, but it must carry on at the same high
\npace, which requires more precision and also superior quality in public
\nadministration in general. We need a lot of things, substantial investments in
\ninfrastructure, and adoption of the high standards of administrative practice
\nthat are at work in the other EU countries.<\/p>\n
<\/p>\n
\n
<\/p>\n
In turn, the deputy governor of the
\ncentral bank, Liviu Voinea, said the main positive occurrence is the lower risk
\nof economy overheating. He added that the inflation rate is returning to the
\ntarget range, and estimated that it will reach 3.5% by year end and 2.9% in
\n2019. At the same time, government debt has dropped by 1% compared to the end
\nof 2017, to 34.1% of the GDP at the end of June this year, against the backdrop
\nof solid economic growth, and remains under the critical threshold for the
\nEuropean Commission’s monitoring procedure, which is 60% of GDP.<\/p>\n
<\/p>\n
\n
<\/p>\n
According to the same report, the
\nunemployment rate stays on a downward course, reaching 4.2% in the 3rd
\nquarter of this year, while the employment rate has followed the same positive
\ntrend of the previous period, going up to 70% in the second quarter of 2018.
\nThe banking sector remains healthy. The report also mentions some weaknesses of
\nthe Romanian economy, including the demographic decline.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The performance of Romania’s economy is closer to its true potential, and inflation will get within the targeted range<\/p>\n","protected":false},"author":46,"featured_media":79929,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[39525,29332,30253,29630,39524],"coauthors":[],"class_list":["post-79928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-consumer-price-index","tag-economic-growth","tag-mugur-isarescu","tag-national-bank-of-romania","tag-report-on-the-economy"],"acf":[],"yoast_head":"\n