ANALYSIS OF THE ECONOMIC GROWTH TRENDS IN ROMANIA

Abstract

Abstract

The question: "Why some countries are richer than others?" is a crucial problem that many economists have proposed to answer. Firstly, it should be noted the fact that the economic development is a quantitative and qualitative concept with a much broader area than growth. It is good that we have economic growth and stability but it is not enough to have economic development. Why? While economic growth is measured by a small number of indicators, among which the most important is the growth rate of GDP, the economic growth implies a long-term dynamic equilibrium, a sustainable growth trajectory based on optimal use of all available resources, the continued development of innovative potential and human capital and the development of strong institutions in order to support economic growth.

This study aims, by keeping the interdependence of the investigated aspects, to analyze and describe the following dimensions: GDP per capita and the average productivity per hour, the most important issues that have led to changes of GDP, where Romania is classified from the growth point of view. The study includes the results of research, statistical series and arguments about the evolution of GDP based on National Institute of Statistics and Economic Studies and the National Bank over the last three years. Finally, the paper proposes a series of lines of action for further sustainable development of our country and reducing the disparities with the EU average.