Romania Can’t Sustain GDP Growth Of Over 5% On Long Term - Ctrl Bker

Romania is missing the required “ingredients” for a sustainable economic growth of over 5% on the long term, because of declining population and of its dependency on foreign capital, a central bank official said Thursday.

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"It has been proven historically that only countries with a flourishing population, such as China, can experience growths of over 5% for a period of 10 years," said Valentin Lazea, chief economist at the central bank. "It would be stupid to think you can do this on the long run," he added.

Lucian Croitoru, adviser to central bank's governor Mugur Isarescu, said in turn that Romania's short-term growth potential is at around 1%.

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