Wednesday 06:12
Economy
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According to a recent report by the World Bank, Romania could achieve an international trade 28% larger if it allocated resources in a manner similar to advanced economies. The report, titled "Tides of Change: Igniting Productivity Growth in Europe and Central Asia," highlights that a poor allocation of productive resources, such as capital and labor, in low value-added sectors affects economic productivity. The World Bank also identifies obstacles that hinder the growth of international trade, including the slowdown of reforms and the presence of inefficient state enterprises. It is also mentioned that Romania loses a significant share of its trade due to the non-commercialization of domestic goods and the lack of imports. In comparison, Poland only loses 19%. The report emphasizes that success in international trade depends on the ability of firms to access external markets.