ROMANIAN MACROECONOMIC STABILITY BETWEEN THE BALANCE OF PAYMENT ASSISTANCE AND THE EUROPEAN SEMESTER

Gabriela Dragan ()
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Gabriela Dragan: The Bucharest University of Economic Studies, România European Institute of Romania, Bucharest

CES Working Papers, 2012, vol. 4(3a), issue 3a, 512-522

Abstract: The first EU Alert Mechanism Report demonstrates the vulnerable macroeconomic external position of Romania, the current Romanian’s balance of payments reflecting a severe need of financing and capitalization. On the other hand, the 2007-2013 programming period potentially provided a significant amount of EU money for investments (around 29 billion euro) through Structural Funds. However, five years after the beginning of the current financial framework, the level of absorption remains extremely low. The paper focuses on the main Romanian macroeconomic imbalances (the current account balance, international investment position) and on the most important sources for financing investments and development - the EU financial structural instruments: ERDF and Cohesion Fund.

Keywords: economic and financial crisis; macroeconomic imbalances; EU funds absorption; balance of payment Romania (search for similar items in EconPapers)
JEL-codes: F02 F36 F59 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:jes:wpaper:y:2012:v:4:i:3a:p:512-522

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