|
RRI newsletter subcription
(e-mail address):
|
 |
Archives:
|
|
| The State of Romanian Economy |
| (2013-05-14) |
| Last updated: 2013-05-15 13:27 EET |
 Specialists with the National Bank, the Fiscal Council and government representatives have conducted an overarching analysis of Romanian economy.
Romania lacks three major ingredients to attract investment, World Bank Chief Accountant, Valentin Lazea said at a workshop held in Bucharest:
Valentin Lazea: “There are at least three flaws affecting Romanian markets, the three “i”-s, as I like to call them: infrastructure, institutions and innovation. The biggest problem with that is that while innovation is related to a higher stage of production, infrastructure and institutions are related to the base, to the primary stage. So, for a country to be able to move on from the first stage of economic evolution, it must have both good institutions and good infrastructure, and Romania doesn’t. That probably explains why investors came to us later and in smaller numbers that to neighboring countries.”
On the other hand, in Lazea’s opinion, those who claim that sectors like banking or metallurgy should remain state-owned should look at tourism, for instance, where results have not improved at all in the past 15-20 years.
In turn, the chairman of the Fiscal Council, Ionut Dumitru, warned about Romania’s lack of energy efficiency. He said that Romania was the third most energy-consuming economy in Europe, with an energy consumption two and a half times bigger than the European average, so no matter how many subsidies some industrial producers may get, they would still not be competitive.
Dumitru also stressed the low level of performance in agriculture, a field that very much depends on the weather and which is highly affected by the fragmentation of farming fields. The Vice-Governor of the National Bank of Romania, Bogdan Oltean, warned that Romania runs the risk of facing a massive drain of skilled workforce. He said that the most relevant example is physicians’ exodus.
The Minister for Small and Medium Sized Enterprises, Business Environment and Tourism, Maria Grapini, believes that the taxation system in Romania also needs certain corrections. Grapini would like the VAT to be levied across the entire production chain, irrespective of turnovers, and a lower tax on micro-enterprises, namely 1.5% starting July, as compared to 3% as it is today.
The minister has also stated that the forfeit tax is to be charged starting this summer, as well as a lower, 9% VAT on bakery products. Gripini has said, though, that she is waiting for standpoint of the Finance Ministry on these fiscal changes.
|
|
| |
WMA |
|
64kbps : |
1
2
3
|
|
|
128kbps : |
1
2
3
|
| |
MP3 |
|
|
64kbps : |
1
2
3
|
|
|
128kbps : |
1
2
3
|
| |
AAC+ |
|
|
48kbps : |
1
2
3
|
|
|
64kbps : |
1
2
3
|
 Historical mascot of
RRI |
| |
© 1999 - 2011 Copyright Radio Romania International |
|
2025-04-03
Print
Listen again