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Wages should grow in step with productivity, and a dramatic twist is for pay rises to be the effect of political play, not of market forces, governor of the National Bank of Romania (BNR) Mugur Isarescu told a specialist conference on Thursday.
In the opinion of the country's top banker, Romania should monitor the implementation of structural reforms, which is key to achieving convergence and sustained economic growth.
For enhanced effectiveness, macroeconomic policies should go along with structural reforms aimed at ensuring a more flexible economic environment, that is we need to monitor the cyclical policies included in structural reforms. Structural reforms are essential to achieving convergence by ensuring sustainable economic growth and a more flexible economy capable of dealing with asymmetric shocks and of drawing benefits from the country's joining the eurozone, Isarescu said.
The National Bank of Romania organised on Thursday in cooperation with the European League for Economic Cooperation - Romania the conference 'The Danube Triangle' on 'Convergence towards euro enlargement'.
