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Convergence Program: The economy to resume a sustainable growth

The macro-economic framework for 2011 took into account the fact that the economic and financial evolution will improve and the economy is to resume its sustainable growth, so that it will achieve a higher Gross Domestic Product by 1.5 percent full-year, shows the draft of Convergence Program 2011 - 2014, prepared by the Government.

Domestic demand will be the engine of economic growth, in circumstances in which gross fixed capital formation will post a higher dynamic than that of the final consumption. After the sharp decline in 2009 and 2010, gross fixed capital formation is expected to increase by 3.4 percent. Budgetary expenditure investments will play an important role in the budgetary policy, in circumstances in which efforts will be concentrated on reducing the budget deficit, the document points out. In the first two months of 2011, exports increased by 41.9 percent from the first two months of 2010 and given that imports rose by 25.0 percent, the FOB-FOB trade deficit was only five million euros.

Under the project for 2011, in the field of inflation, a disinflation process is predicted to resume, with the rate of inflation at the end of the year estimated to go down by more than three percentage points, to 4.8 percent, while the annual average will go slightly above the level in 2010, respectively to 6.5 percent.

Bogdan Manoiu, head of the Department for European Affairs, said the Program also includes the Euro-Plus Pact, which comprises a series of short-term strategic measures to boost competitiveness and achieve economic convergence in the European Union. He reminded that, in November 2010, the Government drafted a preliminary version of the National Reform Program, which set specific targets for all of the strategy's main goals: employment, research-development-innovation, energy and climate change, education, combating poverty and promoting social inclusion.

The final form was developed through the collaboration of the central authorities and consultation with NGOs, employers' organizations and labor unions, said Manoiu. It also considers the European Commission's main recommendations, issued after the evaluation of the draft Program sent in November 2010, and in bilateral discussions. The National Reform Program is correlated with the Convergence Program, which provides the fiscal-budgetary measures required to implement the former's structural reforms.

The Government will send the Program's final version to the Commission and the Department for European Affairs will monitor its implementation country-wide.

Sursa: http://www.actmedia.eu

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