Romanian reforms for professional qualifications aim to secure specialists, says GfK study

The latest study released by GfK underlines that in Europe, the worst of the crisis has been overcome and that the economy is gradually beginning to recover. According to the official data taken from 14 European countries, exporters are benefiting from modest global growth. In some countries, consumers are increasingly prepared to spend more money again. Policy is slightly more clearly departing from its stringent austerity path, which had been holding domestic economies back. Particularly in the Southern crisis countries, tourism has helped improve the situation.

In summer, the EU registered its first marginal decline in the overall number of unemployed. However, the rate is still at 11.0 percent. A true trend reversal on the labor market is therefore not yet on the horizon. It is in fact expected that even more people will again become unemployed in the coming year. Only in 2015 is a significant fall expected. However, experts do not anticipate that the pre-crisis level will be reached again in the medium term.

Romania: reforms for professional qualifications aim to secure specialists

For 2013, all experts are anticipating a slight revival in the so far extremely weak Romanian economy. The forecasts for this improvement vary from 1.6 percent to 2.0 percent. Between 2014 and 2016, the Romanian economy is expected to see growth of between 2.7 percent and 4.3 percent. According to current estimates, GDP rose by 0.5 percent in the second quarter. The overall economic framework conditions are favorable: national debt is at around 34 percent, the budget deficit is around 2.5 percent and unemployment is in the region of 7 percent.

However, Romania still needs a number of reforms in order to be able to keep pace with other European countries on a lasting basis. A great many companies are still owned by the state. Hopes for further privatization were dashed again and again in the chemical, mining and transport industries, in particular. There are also still problems with regard to the judicial system and the black market. Invitations to bid very often feature irregularities and the Romanian government must improve its very poor payment behavior in some areas.

Private consumption is playing an increasingly important role in Romania. Real income is rising. In central Romania, for example, some areas have virtually zero unemployment. The further weak area of professional training was recently reformed. Since 1989, the country had barely invested in this area, but now there is a new legislation, on the basis of which professional qualifications can be completely rebuilt. This relates to practical qualifications, which aim to meet the demand of local labor markets by working in close collaboration with business and state institutions. The aim is to guarantee the availability of qualified professionals and at the same time offer young people good career prospects.