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The Bucharest Stock Market (Bursa de Valori Bucharesti – BVB) has never played a big role in Romania’s economy; nor has it been the focus of much international attention.
But, after a period of turbulence, during which the country has suffered political storms and frenetic general elections, that could all be about to change.
At the macro level, Romania has done its homework. In the first seven months of this year, the budget deficit amounted to just 0.98 per cent of GDP, against the annual target of 2.3 per cent, and the current account was in surplus.
Public debt was 36.7 per cent of GDP in April 2013, a level that many larger European economies should envy, and economic growth for two consecutive years has been at 1 per cent: modest, perhaps, but Romania is at least on the right track – and it should be remembered that these results follow a vital, but politically difficult fiscal consolidation in 2012, an election year."
'via Blog this'
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