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November 12, 2019
ECONOMY FINANCE&BANKING

BNR’s Isarescu: Gaps between Romania’s development areas significant

The discrepancies between Romania’s development areas have remained significant or have even deepened over time and large areas from the southern and eastern part of the country are among the poorest regions in Europe, declared on Friday the governor of the National Bank of Romania, Mugur Isarescu, during the scientific session “Romania in the European Union” taking place at the Romanian Academy.

“In addressing the real convergence process we should not ignore the fact that the gap between Romania’s development areas have remained significant or have even deepened over time. This has happened due to different rates of real convergence that led to the emergence of poles of regional competitiveness poles concurrently with some areas becoming chronically poor. In the Bucharest – Ilfov area, and recent data have burst, so to say, in the press, the standard of living, the income per capita has become higher than the average European Union one, it is even above the average of Berlin’s area, and the west and center of the country are rapidly converging towards this goal with the main catalyst the presence of foreign investment. However, wide regions, we would say, in the south and east of the country, are among the poorest regions in Europe and have progressed rather modestly in the last decade,” said Mugur Isarescu.

According to him, the European Commission draws our attention to the high risk of social exclusion with all its consequences in these areas.

“The first to draw attention, so to speak, should be ourselves. Unfortunately, the lack of infrastructure to link the historical provinces acts in the sense of rendering the development gaps permanent,” Mugur Isarescu.

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