Romania has made significant progress towards stabilising its economy through painful austerity measures, privatisation programmes, and the initiation of fiscal consolidation in recent years. In addition, it has maintained low levels of inflation and sustainable fiscal and current account balances, and is well positioned to move up the emerging market ranks.
The country’s improvement with regards to global competitiveness is hardly surprising. It achieved one of the highest GDP growth rates in the European Union in the first quarter of 2014, with GDP rising 3.8% on a year-on-year basis.
For more information, please see the Romanian version of the article, here.
