Romania has a hard time with planning infrastructure projects, not finding funds, central bank says
Romania is facing difficulties in planning infrastructure projects, including spending from budgets spreading over several years and not with finding the money to spend, central bank governor Mugur Isarescu said.
Absorption of structural funds is the country’s main economic problems and is an important issue, since through it Romania can speed up the real convergence process without creating macroeconomic gaps.
"It will be vital to speed up, but not fall off the horse," Isarescu said, adding economy needs to accelerate at a fast pace but look after possible imbalances.
He added it is pointless to tackle the idea of a budget deficit widened by spending with infrastructure projects since Romania has projects unfinished since 2000.
Isarescu reminded the balance between nominal and real convergence must be kept.
Using structural funds is in close relation with the evolution and the structure of the banking system, he added.
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Absorption of structural funds is the country’s main economic problems and is an important issue, since through it Romania can speed up the real convergence process without creating macroeconomic gaps.
"It will be vital to speed up, but not fall off the horse," Isarescu said, adding economy needs to accelerate at a fast pace but look after possible imbalances.
He added it is pointless to tackle the idea of a budget deficit widened by spending with infrastructure projects since Romania has projects unfinished since 2000.
Isarescu reminded the balance between nominal and real convergence must be kept.
Using structural funds is in close relation with the evolution and the structure of the banking system, he added.
NewsIn
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