Romania lacks economic strategy

Jeffrey Franks, the head of the IMF mission in Romania, has for the first expressed disappointment that only shortly before Romania signs a deal for a new 20 billion euro credit from the IMF and the EU the country is still lagging behind in terms of economic growth. The daily Adevărul agrees with his sentiments: "In the last two years the gross domestic product has sunk by 10 percent, VAT has risen to 24 percent, inflation has gone up to 8 percent and 100,000 jobs have been axed in the public sector. The result of all this misery: predicted growth of 1.5 percent for this year, … the lowest level of growth in Central and Eastern Europe. … Head of state Traian Băsescu may have an allergic reaction to all those who say that Romania has no strategy and no vision for economic development - but it's the truth. … The stupidity of the government team under Prime Minister Boc has thrown Romania off course and caused the population unnecessary suffering. What else can the people do but be disappointed along with Franks."

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