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MACROECONOMIC ASPECTS AND CHALLENGES IN ROMANIAIN THE FIRST HALF OF 2016Cristian - Marian Barbu1

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  • ABSTRACT: This paper reveals that fact that although Romania had a significant
  • economic growth during the first half of 2016(5

    (2%) and it was the European economy with the)

  • highest growth rate

    (the consolidated general budget had a deficit of 3.12 billion lei after the)

  • first 8 months of 2016

    (equal to 0.41% of the GDP estimated for 2016. The result is 10 billion lei)

  • below the same period of 2015

    (due to a mix of policies that resulted into stimulated demand and)

  • fiscal relaxation. The paper also analyses the foreign investments in 2015

    (per country of origin)

  • of investments

    (development regions and sectors of activity. Romania holds the 62nd place among)

  • most competitive 138 countries in the world

    (according to the WEF 2016 - 2017 report)

  • published in September 2016

    (and a set of problematic factors show thatRomaniadoes not have)

  • currently the necessary ingredients to leap from a middle economy to a developed economy

    (and)

  • it looks like caught in the ‘middle income trap‘.
  • Keywords: economic growth

    (macroeconomic policy budget execution foreign)

  • investments

    (competitiveness middle income trap)

  • JEL Codes: E03

    (E60 O11)

Abstract

This paper reveals that fact that although Romania had a significanteconomic growth during the first half of 2016(5,2%), and it was the European economy with thehighest growth rate, the consolidated general budget had a deficit of 3.12 billion lei after thefirst 8 months of 2016, equal to 0.41% of the GDP estimated for 2016. The result is 10 billion leibelow the same period of 2015, due to a mix of policies that resulted into stimulated demand andfiscal relaxation. The paper also analyses the foreign investments in 2015, per country of originof investments, development regions and sectors of activity. Romania holds the 62nd place amongmost competitive 138 countries in the world, according to the WEF 2016 - 2017 reportpublished in September 2016, and a set of problematic factors show thatRomaniadoes not havecurrently the necessary ingredients to leap from a middle economy to a developed economy, andit looks like caught in the ‘middle income trap‘.Keywords: economic growth, macroeconomic policy, budget execution, foreigninvestments, competitiveness, middle income trapJEL Codes: E03,E60, O11

Suggested Citation

  • ABSTRACT: This paper reveals that fact that although Romania had a significant & economic growth during the first half of 2016(5 & highest growth rate & first 8 months of 2016 & below the same period , 2016. "MACROECONOMIC ASPECTS AND CHALLENGES IN ROMANIAIN THE FIRST HALF OF 2016Cristian - Marian Barbu1," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(18), pages 1-8.
  • Handle: RePEc:alu:journl:v:2:y:2016:i:18:p:8
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    Keywords

    ‘ARTIFEX‘ University; Bucharestdoctrine_economice@yahoo.com1;

    JEL classification:

    • E03 - Macroeconomics and Monetary Economics - - General - - - Behavioral Macroeconomics
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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