If Romania does not overcome the psychological threshold of 2% GDP growth, the gap compared to the other countries of the European Union will not be surpassed, said Thursday Economy Minister Vosganian, quoted by Agerpres.
"We have got two levels that the Romanian economy is working and another two that showcase vulnerabilities. It operates on the industry and on the export areas and has vulnerabilities on the consumptions and investments areas, "said Vosganian during the conference" Risk Management in financing Romanian companies "organized by the Legal Magazine and Business Mark, in partnership with the Ministry Economy.
"You may be wondering how can one be without the other. Industry operates without consumption because it has found exceedance abroad. Imagine that compared to 2008 we export in terms of size, about 13 to 14 billion extra. By 2008 exports were about 32 billion Euros, and today they are 45-46 billion and even approaching 50 billion Euros, which is significant. You are wondering how industry is working without investments. The Industry operates today on the remanence of what happened until 2008, "he explained.
Vosganian argues that exports are due to foreign investments made up to 2008, the same as the maintaining and developing of the industry.
"It means that the second half of 2013 should bring about a major shift in its fulfillment. Why? For 2013, the second half has an overwhelming importance for the Romanian economy in this decade. Now Romania goes back into the cycle of growth. Between '98 and 2003 it was in the negative phase of the economic cycle, from 2003 to 2008 during the positive phase of the cycle, from 2009 to 2013 it went back into the negative phase, the second half of 2013 until 2018 Romania is likely to be again in the positive phase, "said Vosganian.
This summer, the International Monetary Fund (IMF) has revised Romania's economic growth forecast for 2013 from 1.6% to 2%.