Romania has a new Euro adoption deadline: 2019

Newsroom 14/02/2014 | 16:36

Romania is able to fulfill all the conditions imposed on it to enter the Euro Zone, such as inflation, bond interest rates, exchange rate stability, budget deficit <3 percent of GDP and public debt <60% of GDP.

“Romania is able to satisfy all the necessary criteria for entering the Euro zone: inflation rate, interest rates on bonds, exchange rate stability, budgetary deficit under 3 percent of GDP and public debt under 60 percent of GDP. We are on course in terms of increasing real convergence. Our target for integration is 2019”, according to the Government’s report: “Economic results in 2013 – Objectives for 2014-2015”.

The Goverment’s estimates indicate a drop in unemployment by 6.5 percent since 100,000 new jobs will be created in the next two years. Between 2014 and 2015, the cash deficit will drop from 2.5 percent (2013) to 2.2 percent (2014) to 1.4 percent (2015), all the while maintaining the current account deficit under the level of 2pct.

The same presentation shows that the unemployment rate as it is now is one of the lowest in the European union and in the last two years Romania has transformed itself in one of the surest states for investments in the world. It is “less risky than Greece, Portugal, Italy, Spain and Hungary”, the Government boasts.

Romania has managed to create 80,000 jobs in the last two years, while the other examples have lost jobs.

 

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