Loading ...Romania cannot develop endlessly on a speculative bubble and its economy is uncompetitive relying on cheap manpower and big consumption, Senate's Speaker Mircea Geoana said on Tuesday. 'This crisis debunked the myth of Romania's development based on real estate and financial speculations that have been nourishing for four years, the illusion of a healthy developing economy,' Geoana pointed out, during the yearly conference of the economic advisors in the external network of the Ministry for Small and Medium Seized Trade Companies and the business environment.
The Romanian economy is uncompetitive, and road building and maintenance cost here by round 40 percent more than in other countries, Geoana added citing a World Bank survey. The EU Directive on Services is to come in force, at the end of the year, and Romania is not prepared to enact it, which can bring about losses, Geoana finally warned.
The State must prepare the business people so that they should not be inferior than their competitors on the EU market, Geoana stressed. Romania is tempted to accept World Bank or International Monetary Fund (IMF) strategies as if they had the recipe for us to step out of crisis. 'We must dare conceiving our own strategy,' the Romanian Senate Speaker concluded.
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