ROMANIA BETWEEN CHOICES

by Ana Dorobantu

The economic recession that Romania’s struggling with seams to grow deeper and deeper. These days there’s a huge debate regarding this year’s budget. The debate itself started from the huge lack of funds. Why? That is because it lacks those public policies that can bring the country on the right path. Well, as many analysts have already noticed, these people are practically useless in terms of competency and abilities. Their policies are based on dissemination and coiling around the finger, avoiding the real issue: the diminishing of the economic crisis.

Let’s focus of the Romanian business and financial situation. We all know that due to the global economic crisis, several countries entered a recession that was like nothing before. Romania isn’t one of the exceptions in this regard. I can even say that it has an ‘extra’ due to the couple of months of political insolvability and lack of response to the crisis.

Romania’s way out from this crisis shall be due to a cocktail made of an international auspicious context, plus internal push-ups and last but the most important –according to the Romanian Association of Financial Experts- holding the agreement with the International Monetary Fund.

Why is the last one the most important? Because of the IMF involvement, there is certain that the right economic measures and policies will be taken in the next 5 years.

Maybe one of the most important internal push-ups is the governance quality. What many political analysts avoid saying is that there has to be an agreement between the Romanian political parties so that working together, they can put the country on the right track. Therefore the very own principles of good governance shall be those leading our way out, by keeping a good and valid political partnership with all the parties involved.

According to the experts from the National Bank of Romania, the less sufficient sector of the 2010 economic relaunch will be the Romanian bank system. That shall occur due to the general mistrust that generally surrounds this sector.

To the other pole we find the long forgotten agriculture, energy and infrastructure. These three are, according to the experts, the sectors where Romania can meet the highest development potential.

In September 2008, Romania was taking fast steps towards what was to become a severe recession. Despite the signs of the worldwide global crisis coming to an end in the near future, the country’s facing a major situation created by both economical and political instability.

For the sake of making the right call, all parties involved in putting the country back on its track have to collaborate and make use of all democratic means to implement these policies. In a democratic state, that follows the principles of the good governance, there’s always a way out of a national crisis.