The Romanian economy has met the Maastricht criteria in 2015, Mugur Isarescu, National bank of Romania governor said at the conference ‘Romania in the European Union’, hosted by the Romanian Academy.
“It is a notable performance, achieved through sustained efforts over many years. It is important, however, that economic policies promoted by the Romanian authorities further satisfy these criteria. The fact that now we are doing well, as they say, in light of these criteria does not guarantee that in a year or two we will do well if the appropriate policies are not applied,” said Mugur Isarescu.
According to the BNR official, there is a need for sustainability, as it is not only important how an economy grows, but how it grows.
Isarescu mentioned labour market reforms as an area that Romanian authorities should work on. Among the issues affecting the labour market, Isarescu the incapacity to retain talents, the gap between the qualifications of the labour force and employees’ needs, low mobility at national level, which represent constraints to the potential of development.
“After ten years since Romanian joined the EU I don’t think that our positive track record can be denied, although the path of the Romanian economy was not as smooth as we would have liked 10 years ago,” he added.
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