This is the fourth GEA report assessing Romania’s economic performance by using Lisbon Agenda
benchmarks. It is published a little time before Romania’s accession into the European Union.
This should be a most uplifting, gratifying moment for all Romanians who trust the political and
economic project of the EU; for those who bet on accession as an historical opportunity for overall
Spectacular economic growth rates in recent years, the consolidation of the ﬁnancial system,
disinﬂation, low unemployment rates, etc have changed the perception of the Romanian economy
both domestically and abroad. The international rating agencies have not procrastinated in giving
Romania investment grade and capital inﬂows have poured massively in the country in the last
couple of years. Nonetheless, lucidity and intellectual honesty ask for poise in examining a series
of challenges that will confront Romania’s economy after accession. And this is what we have tried
to do in this report.