“Rules of capitalism say that there is a high failure rate when moving from the first generation, of those who built the business to the second generation, of their children. The failure rate is 70%,” Iuga said Tuesday during the “Biggest players in the economy” conference whose topic of discussion was “Lessons of the crisis for the next period of economic growth” organised by Ziarul Financiar and PwC Romania.
“This is a time when professional managers can make a difference. We do not have enough professional managers.”
Under the circumstances, he is a supporter of the private sector involvement in education.
“The flaws of the education system cost Romania several percentage points of its GDP,” PwC’s official said.
Only 44.47% of the students taking their high-school graduation exams throughout the country actually passed them this year. The percentage may change somewhat once petitions to grade exam papers again have been answered.