| Summary: | Romania has made considerable progress in recent years towards reducing macroeconomic imbalances. Such reductions, together with monetary policies and structural reforms, either implemented or in progress, have contributed to maintaining macroeconomic and financial stability. After the budget deficit peaked in 2009-2011 in the context of the economic and financial crisis, Romania's economy then started to recover, at first with a modest annual GDP growth rate of less than 1 percent, but increasing over the period 2013-2015 to an average of 3.4 percent. The unemployment rate, however, remained constant at below 7 percent, while investments continued to rise, reaching 23.7 percent of GDP in 2015, which was the highest in the EU. Education policies and those aimed at increasing the quality of the workforce are paramount for combating poverty and supportingeconomic growth.The results, as contained in this report, are based on a new World Bank tool designed for this purpose. Known as SABER-WfD, the tool is part of the World Bank's initiative on Systems Approach for Better Education Results (SABER) whose aim is to provide systematic documentation and assessment of the policy and institutional factors that influence the performance of education and training systems. The SABER-WfD tool encompasses initial, continuing and targeted vocational education and training that are offered through multiple channels, and focuses largely on programs at the secondary and post-secondary levels
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