"Competitive Romania" strategy is completed

The "Competitive Romania" strategy, the result of a six-month public debate, which involved 600 experts, is completed and will be presented to the public in two weeks, said Vasile Iuga, managing partner of PwC Romania, member of the initiators’ committee. The document starts from Romania’s current situation. It analyses Romania’s strong points, such as macroeconomic stability, open economy for the investors, and the IT sector, as well as the weak points, namely bureaucracy, little trust in political and administrative decision-makers or weak infrastructure, Iuga explained, reports local Mediafax. “The strategy is applicable if we have sustainable economic growth (not just physical, financial) of 5% per year. If we continue with increases based on tax cuts and salary increases to employees, unaccompanied by structural reforms, correction will inevitably follow.” In developing the strategy, the experts considered three conditions, which acted as filters, namely a sustainable economic growth, reasonable budgets, and measures that are ideologically neutral, Iuga said. The strategy includes 127 measures aimed at reaching 44 objectives in 16 activity sectors. The budget for implementing this strategy is EUR 18 billion for five years. According to Iuga, implementing this strategy would take Romania to 75% of the average population purchase power by 2020, from the current level of 57%. editor@romania-insider.com