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BCR chief economist: Romania should focus on ten multi-annual EU-funded projects

Out of the 46,000 projects seeking European funding, Romania should focus on ten major such undertakings, which should span several years, Banca Comerciala Romana (BCR) chief economist Lucian Anghel told Agerpres.

As of next year, Romania should also take action regarding infrastructure, energy, the absorption of EU funds and agriculture.

'At this point, I believe that out of the 46,000 initiated projects that are now in various stages, we should pick ten major projects of national scale that should get multi-annual budgeting. This should be done to get the economy restarted, otherwise it will be very difficult,' said Anghel.

In his opinion, Romania will have an economic growth of 3-4 pct as of 2012.

'When we go downwards, we do it at a steeper pace than the eurozone, and when we grow, given our potential, we can outpace the eurozone by far. In five years - specifically between 2011 and 2016 - I think we will be growing faster than the euro area,' estimated the BCR official.

Anghel expressed hopes that attention will shift from fiscal consolidation to strengthening economic growth.

'This means shifting attention to the measures required for the relaunch of the economy, not just on fiscal consolidation,' said Anghel.

Referring to the banking market in 2011, the BCR chief economist expects both the banking system and the economy to recover.

'If there will be consolidation moves, these are likely to happen out of the country. In Romania there is room for consolidation. There are too many banks fighting for market share. In other countries there are fewer such entities,' concluded Lucian Anghel.

Sursa: http://www.agerpres.ro

Tags: should romania anghel projects chief economist bcr euro

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