Romania’s prudent macroeconomic management has enabled it to recover quickly from the global financial crisis. Latest projections estimate a real GDP growth rate around 1.5 percent in 2012 with growth rising to 3 percent in 2013. However there are risks which include uncertainty in the Eurozone and about the exports markets, political developments in the context of local and parliamentary elections, and absorption of EU funds. The key challenge in the medium term is for Romania to achieve the steady economic growth, and to improve living standards, while meeting the fiscal targets, and to continue structural reforms and the modernization of the public administration.
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