IMF: Romania’s Economic Growth Potential At 3% On Medium Term

05.10.2011 ZF English

Romania has an economic growth potential of 3% on medium term, but it needs to raise local production for a sustainable growth, according to Jeffrey Franks, head of the International Monetary Fund mission to Bucharest.

The IMF forecasts Romania's economic growth at 3.5%-4% in 2012 and 4% in 2013, higher than the estimated potential.

Ensuring the macroeconomic stability is mandatory for a sustainable growth, Franks told a financial seminar Tuesday. Also, the growth needs to be attained by attracting foreign capital, workforce and by improving technologies, he added.

He stressed out that the country should bring back Romanians who work abroad. Another support for future economic growth should be improving the infrastructure, Franks also said.