The disastrous performance in building the transportinfrastructure discourages investments and economic growth inRomania, says Andreas Treichl, CEO of Erste Group - which controlsBCR.
"Romania has a better chance than Hungary of getting out of thedifficult situation it is in. The big advantage is the very lowforeign debt and the right mix of labour cost and productivity. Butwhat acts as a significant dampener on investments and on economicgrowth is the disastrous state of transport infrastructure works,"said Treichl at a conference with investors organised inCroatia.
He says in general the economy progresses irrespective of howpoor-performing or how good politicians are, but the transportproblem "is a serious problem."
The head of Erste believes Romania's real advantage in the regionis its potential as a logistic centre, combined with the low costof labour and the size of the local market. As on every occasionwhen he has commented on Romania's situation, the Austrian bankeralso denounced the low degree of absorption of EU funds.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
