Cosmin Marinescu, BNR: Cele trei condiții prin care România poate trece la un nou model de creștere economică

Cosmin Marinescu, the vice-governor of the National Bank of Romania, outlines three essential conditions for Romania to transition to a new economic growth model focused on innovation rather than low costs. He highlights the current stagflation, characterized by economic contraction and high inflation, following two years of modest growth. Despite a significant reduction in the budget deficit, continued fiscal consolidation is necessary. Marinescu warns of rising interest expenses and emphasizes the need for a shift from cost-based competitiveness to quality, innovation, and technology. He stresses the importance of sustainable public finances, improved corporate financing structures, and the expansion of local production chains to enhance productivity and investment in human capital.