“I don’t think the crisis is over. The recession stage is over, but the country is not undergoing a boom stage, but a transition stage,” Vasilescu said at a conference on the celebration of ten years from Romania’s integration into the EU.
“The crisis started with a recession back in 2009, then we returned to economic growth. Romania ranked 6th in EU in 2011-2012, now it ranks first by GDP growth rate. The GDP grows at the fastest pace in Europe, but the ground that we lean on is not that solid anymore,” the central bank official said.
Vasilescu said that, although Romania ranks first in EU by economic growth and is the seventh economy by size in the EU, it is last but one by purchasing power parity.
CEC Bank president Radu Gratian Ghetea said that the EU integration was beneficial for Romania, adding that the country attracted EU funds worth RON14 billion through CEC Bank in ten years.