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February 8, 2023

Erste: Romania needs ‘critical mass of engineers’

Romania needs ‘a critical mass of engineers’, an economy-oriented system of education and success stories similar to Dacia’s in other sectors in order to make headway in the process of economic convergence with the rest of the EU, Birgit Niessner, lead-analyst CEE Macro Research, Erste Group, said during talks with the press, Mediafax reports. Romania is still in a phase where economic development is fuelled by improvements of production efficiency, but has the required potential to catch up with other more advances states such as Hungary, the Czech Republic and Slovakia, in order to make the transition to economic development sustained by education and innovation in the next years. The evolution of Romania and other countries in its region however also depends on the foreign context and recovery of euro-zone states, Niessner further notes. The process of economic convergence is not guaranteed and politicians, Romanian and EU alike, need to give innovation the deserved importance, the analyst also says. European funds can, in the context of poorer FDI, give the necessary support for moving on from economic stagnation. In the next decade, Romania will start the process of transition to an innovation-based economic development phase, but, for that, it needs success stories such as Dacia.

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