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June 13, 2021

Debate on Romania’s investment opportunities in a global economy full of challenges .PM Ciolos: Romania has to turn economic growth into real development

Romania has to turn its economic growth recorded since 2011 into real development, Prime Minister Dacian Ciolos told a debate on Wednesday on Romania’s investment opportunities in a global economy full of challenges.

He added that Romania has had good economic growth since weathering the 2008-2009 crisis and joining the European Union in 2007.

“We have fell economic growth since 2011, at least if we look at figures; it is also visible in the new jobs created and the flourishing of investment opportunities. So, a good economic growth, but we continue to face certain gaps between various parts of Romania, economic gaps between various categories of the population; it was not by chance that we have unveiled this year a poverty alleviation programme, precisely in order to take long-term, integrated measures to bridge the gaps. We still have to get rid of gaps between the countryside and the urban areas, gaps that are also deepened by the migration of Romania’s workforce especially to Western Europe and South-Western Europe. So here we are facing a paradox in Romania: there has been economic growth for some years but the challenge now is turning the economic growth into real development that will be felt in the bridging of gaps among regions, among various social categories, as well as between the countryside and urban areas,” Ciolos told the debate.

He added that the Government’s objective has been to secure predictability of its economic and tax policies, mentioning that the fight against corruption needs to be continued, with more emphasis in the years to come on prevention and education.

“I believe having a judiciary that fights against corruption is not enough. If we all understand that corruption leads to chronic poverty, we have a lot to change in our behaviour, and these combat measures against corruption could certainly improve the efficiency of the governmental economic actions and interactions with the citizens. From that perspective, we have started with actions that may appear small and unimportant, namely measures to cut through red tape and to simplify and clarify legislation. But in the years ahead, these measures have to be doubled by very clear political backing; they have to be doubled by a reform of the public administration for more efficiency in the administration and for steering it toward getting results and toward the citizens. Such a reform of the public administration is not possible without depoliticisation, which to me does not mean chasing politics out of the relationship with the administration, but clarifying and clearly delineating the relationships between politics, governmental policies and the public administration,” added Ciolos.

About the government’s interventions in the economy, he said the Government has at the same time continued corporate governance measures in order to “increase efficiency in the state actions as a majority shareholder in government-run companies operating in the market.”

He also mentioned the tax measures taken by the Government, mentioning the IT sector to the points, and talking about the role of the interaction between the Romanian business community from abroad and SMEs operating in Romania, as well as about the importance of reducing unemployment.

Also attending the debate as guests were Romania’s Finance Minister Anca Dragu and Germany’s Federal Finance Minister Wolfgang Schauble.

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