Philippe Le Houreou, World Bank’s vice-president for Europe and Central Asia, also said Friday that Romania’s economic growth is impacted by the quality of its public administration, adding an honest public administration and unbiased regulatory bodies are able to attract investments which will further ensure a healthy economic growth.
Le Houreou pointed out that reforming the public administration is crucial for Romania’s development in the long run and for its capacity to absorb European Union funds on the medium term. He went on saying that a competent public administration is essential for a healthy tax system and for a rational use of public resources with a view to boosting investments.
Romanian Prime Minister Victor Ponta, in turn, said that implementing the projects agreed upon with the World Bank represents the Government’s top priority and has expressed his gratitude that the World Bank’s Board of Executive Directors approved Tuesday a EUR1 billion precautionary loan for Romania. Ponta stressed the Romanian Government is highly focused on measures targeting structural reforms, social reforms and economic growth.
The World Bank previously provided Romania with technical assistance within a project co-financed from the European Social Fund, via the Operational Program “Administrative Capacity Development.” The project was implemented by the Government Secretariat General between September 15, 2011 and May 14, 2012 and its overall eligible value rose to 6.96 million lei (EUR1,56 million), of which RON2.4 million represented the Government’s non-reimbursable contribution. (EUR1=RON 4.4595)
Le Houreou met with Ponta Friday, at the government headquarters, where they attended the conference “Modernizing Public Administration in Romania.”