Romania – the euro-adoption plan during the EU presidency

Already in 2014 the government in Bucharest established the date of the currency change. Then Romania will hold the presidency of the European Union. The economic results show that euro-adoption plan is feasible. According to the Romanian Statistics Committee, in 2014 Romanian economy recorded a GDP growth by 2.9 percent. The IMF forecasts that in 2015 GPD will grow by 2.7 percent and by 2.9 percent in 2016. The country consolidates public finances and consistently cuts the budget deficit, which now represent 1.9 percent of GDP, which means that Romania fulfills the requirements of both the IMF and the European Commission. The level of public debt stays at a safe relation to GDP, because it is below 40 percent. The central bank’s inflation target for 2015 is 2.5 percent with the possibility of variation of a percentage point up or down. Thanks to these measures and that the results of the European Commission closed the excessive deficit procedure against Romania. The value of foreign investments as of 31 December, 2014 amounted to EUR 62.2 billion. The most important investors are: the Netherlands, Austria, Germany, France and Italy. Poland is the sixth trade partner of Romania taking place after Germany, Italy, Hungary, France and Turkey. In 2014 Polish-Romanian trade turnover reached EUR 4 billion. Polish exports amounted to EUR 2.7 billion, imports from Romania EUR 1.3 billion, which means that the balance was positive for Poland. Source: rp.plTags: , ,