83483
Romania Trade Gap Widens
Romania Trade Gap Widens

Romania Trade Gap Widens

Romania Trade Gap Widens

Romania’s exports of goods increased by 15.9% year-on-year in January to €5.42 billion ($6.66 billion), but were outpaced by imports, government data showed on Monday, Business Review reported. According to National Institute of Statistics, imports rose 17.3% in January to 6.2 billion, and the trade deficit widened 28% to €775 million. Romania’s trade gap surged 30% in 2017 to €12.96 billion, as the government adopted during the last few years a strategy of wage-led growth, stimulating household consumption and GDP growth rates. But this model has generated larger fiscal and current account deficits and experts insist Romania should change the economic model in order to obtain real long-term economic and social development. In the absence of structural reforms and fiscal consolidation, Romania’s buoyant economic growth risks setting the stage for a hard landing, the European Commission wrote at the beginning of its country report on Romania. The country’s economic boom has been driven mainly by consumption, while investment has remained subdued, according to the EC.

 

Short URL : https://goo.gl/69isSt
  1. https://goo.gl/Bhso1m
  • https://goo.gl/3T4iCR
  • https://goo.gl/SQSwWy
  • https://goo.gl/Gqtywo
  • https://goo.gl/Q1ZZZS

You can also read ...

Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
Africa Next Frontier for Crypto
Cryptocurrency is not bound by geography because it is...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
All Asian currencies have declined this year in the fallout from the US-China trade war.
Don’t be fooled as Asian currency swings seemed to be...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus