Romania: Market-unfriendly government under pressure
Romania is heading towards a vote of no-confidence in the government by parliament (5 October) and a presidential election (10 November). We have argued before that anything that could prompt a change from the current market-unfriendly government (fiscal populism, ad hoc regulation, inhibiting anti-corruption) should be welcomed by investors, but such change is far from assured.
For a meaningful acceleration in growth (the IMF forecasts 3% for real GDP growth in 2020 and 2021), Romania needs to engage in another round of structural reform and see a pick up in EU demand, but a change in government policy can at least...
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