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Radulescu (BT): We doubled GDP but not through investments; we have the lowest productive investment dynamics

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Romania has doubled its GDP since 2006 to the present day, but not through investments and is the EU state with the lowest productive investment dynamics in the post crisis economic cycle, said Andrei Radulescu, research director at Transylvania Bank, on Thursday, at the conference “Banking 365: Bank of the Future.”

He said we have to develop the capital market in order to have a convergence of the financing cost to the one existing in the area and in countries in the area first of all.

The economist declared that we must accelerate digitization which represents a reallocation of economic resources. Structural reforms should not be made when there is no access to financing, but in a continuous form and we cannot afford being left behind in the Digital Revolution Age.

“The fact that we have a poorly digitized economy  influences the level of financing costs in economy,” Radulescu added.

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Friday, June 7, 2019