new romanian government hopes to put the country back on track
News Posted On: 03 December 2009
As if the fact that the economic crisis has just about collapsed the Romanian economy weren't bad enough, the government collapsed last month, just weeks before the election that will take place on Sunday.
The first job for the new government (whoever it may be) will be to restore relations with the International Monetary Fund so that they may restart the payments of Romania's 20 million Euro aid package.
After the election the new government will have 3 election free years. Analysts hope that they will use this time wisely, to make the substantial reforms necessary to bring Romania's level of Foreign Direct Investment up to a par with the other former Balkan states and the rest of Europe.
Since the USSR was disbanded and states like Romania, Bulgaria, Serbia and the others became independent states, most of the former Soviet States have made massive reforms to reduce corruption and increase the faith of international investors, but Romania has struggled with these reforms thus far.
Romania has been among the worst affected in the world by the economic crisis, and if it weren't for the IMF coming to the rescue the economy may well have collapsed altogether.
It is hoped that the new government can act quickly to restart IMF payments and get the economy back on track. If the government can use the 3 election-free years to make the reforms necessary, then there is no reason not to forecast strong growth in the Romanian economy in the mid-long term -- following the former Yugoslav pattern.
If you believe in Romania's future you can look upon the current crisis as a golden opportunity. Romanian property can currently be bought at incredibly low prices, and will grow immensely in value over the long term, once Romania gets back on track.
Find out more about Romanian property
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