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Analysts: Romania cannot have economic growth without foreign capital

14.11.2010, 15:33 19

Lending will be resumed only after the economy returns togrowth, with the biggest risks endangering economic rebound beingpolitical ones and having to do with dropping reforms, as well aswith falling into exaggerated pessimism.
The best-known economic analysts and representatives of the centralbank yesterday debated the main challenges facing Romania and therisks endangering economic growth at the annual conference of theAssociation of Financial-Banking Analysts in Romania, held at theNBR (National Bank of Romania).
Some of the main challenges cited by analysts are the continuationof the fiscal adjustment process, solving tax evasion, statemodernisation, administrative capacity versus the alternative ofoutsourcing the "technocratic" part of decisions and regainingcredibility with foreign investors.
The importance of boosting Romania's attractiveness as adestination for direct foreign investments has been unanimouslyagreed on by analysts, considering Romania's dependence on foreigncapital amid a low level of domestic savings.

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