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World Bank: Romania needs complex development policy anchored in country-specific vision

Romania needs a complex national development policy, anchored in a vision of its own about the future, that should go beyond political considerations and the convergence policy will require a consensus on the ways to achieve the established goals, World Bank Regional Director for Central and Eastern Europe, Peter Harrold, on Tuesday told a symposium organized in Bucharest by the World Bank.

'The crisis has given the government the opportunity to carry out reforms that had been neglected for a long time, such as the reform of the pension scheme, of social assistance, the financial system, the labor market. The national reform programme is a catalyst and a vector for external reporting, not one for the internal debate of reforms. The recent crisis has exposed the challenges to developing and implementing reforms. The driving force for the process of reform in the past 20 years has generally been represented by the requirements arising from Romania's NATO and EU membership, as well as by the needs for financing from organizations such as the World Bank and the IMF,' said Peter Harrold.

The WB official stressed that 'the sustainability of reforms has often been faulted by political considerations. To a great extent, the crisis has been the engine of reform in Romania. The reforms were set in place as a result of the crisis, not based on a strategic plan for the future of the economy. Dialogue was limited, also because of the crisis.' The World Bank Regional Director for Central and Eastern Europe considers that Romania is now in the situation when it can resume growth and evolution towards convergence with the EU.

Sursa: http://www.actmedia.eu

Tags: crisis reforms policy needs romania world

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