FIC starts Va Urma project

Romania, as well as other EU countries, is currently facing several economic challenges: high inflation, the energy market crisis, as well as macroeconomic imbalances (current account and budget deficit). The Foreign Investors Council (FIC) believes that the responses to aid recovery should not only be based on solving problems in the short term, but should also help prepare the economy of the future. Romania should establish and implement those strategic directions that strengthen economic growth and ensure the well-being of its citizens.

In 2016, the Foreign Investors Council (FIC) started an ambitious project called Va Urma, which advances an economic model that can lead Romania into becoming one of the top 10 economies in Europe by 2040. As early as 2016, the FIC identified that the acceleration of economic development requires the establishment of main directions based on demography and human capital, modern infrastructure and efficiency in both the public and private sectors. This year, we bring to the public’s attention the same project for our country, with a vision for the next 20 years, updated to take account of the latest events at global level. A key element of our programme is sustainable growth through which the development of Romanian society will be aligned with European objectives in terms of climate neutrality.

The objectives and recommendations of Va Urma overlap with and also complement some of the measures announced by the Romanian Government. They are intended to be pursued alongside the targets assumed through the National Plan for Recovery and Resilience (NPRR). At the same time, they converge with recommendations for Romania from the European Union.

Achieving these objectives is conditional on a change in societal behaviour and requires a significant initial financial effort. The Va Urma economic model provides an estimate of the investment needed to achieve climate targets and ensure economic growth. The scenarios we have considered highlight the need for annual investments of between 161.3 and 170.8 billion lei.

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crisiseconomicenergyFICForeign Investors CouncilinflationRomaniavaurma
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