Search results for "potential development"

“The Limits” of Economic Growth in Romania

2014

Abstract A sustainable economic growth of GDP of 3-4% annually in Romania for the reduction of gaps in development was considered impossible by most institutions of various skill and opinion leaders, as well as of international financial bodies. The reasons cited were delayed public reforms, low growth potential as a result of the crisis, the overview status of the states in the Eurozone dependent on inside community trade and also the prospects for a lasting economic stagnation, the balance sheet effect, as a result of over indebtedness of firms and individuals that substantially reduced inclination towards investment and consumption. Contradicting these forecasts, in 2013, Romania's econo…