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The Recovery And Resilience Of The European Union. Implications For Romania

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  • Răzvan VOINESCU

Abstract

The outbreak of the COVID-19 pandemic has affected the prospects for economic development in the European Union in the years to come. The European Commission considers that firm reform measures and substantial investments are needed to support both the economic recovery of the Member States in the post-pandemic period, their further economic convergence, and the strengthening the European project as a whole. In this article we present a review of reforms and investments in priority areas of intervention – in particular fostering the transition towards greener economies and the digital transformation of public administrations, as well as strengthening social resilience – that will be financially supported by the Union. Interventions seek to stimulate job creation, support sustainable economic growth and contribute to the modernization of national economies, while enabling the recovery of the European Union as a whole, in a balanced and sustainable way that adequately responds to the challenges of the future. In this context we analyse the implications of the financial support mechanism for Romania.

Suggested Citation

  • Răzvan VOINESCU, 2021. "The Recovery And Resilience Of The European Union. Implications For Romania," Euroinfo, Institute for World Economy, Romanian Academy, vol. 5(1), pages 3-16, March.
    • Handle: RePEc:iem:eurinf:v:5:y:2021:i:1:p:3-16
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    File URL: http://www.iem.ro/rem/index.php/euroinfo/article/view/783/867
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    More about this item

    Keywords

    COVID-19; resilience; recovery; European Union; Romania;
    All these keywords.

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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