In the first two months of the year we had about EUR480 mil. and that's not too bad, if the pace is maintained we get to some 2.8bn, and this is much more than the governmental forecast of EUR 2bn. As I already mentioned it, it is pretty obvious that this money has less to do with the governmental strategy and more with the tremendous investment potential from the country. I would go that far and say that this investment comes in spite of the actual national strategy for ensuring a healthy biz environment. But I digress.

In addition, something really worth noting is that Romanians working abroad had sent out in Romania via bank transfer about EUR 1.5bn, or some 3% of GDP. That is a number to consider and according to officials this year it is estimated at about EUR 1.8bn. Moreover, there is some unaccounted money (or undeclared) coming from the same source which officials estimate at about EUR 1.35bn this year. So all in all 2004 means about EUR 3.2bn coming from some 700,000 individuals working abroad.

Now this is the raw data, let's do some simple math. In 2003 the GDP stood at $57bn or EUR 49bn., and it is forecasted to grow with some 4.9% in 2004. That means EUR 51bn. Keeping in mind the above-mentioned figures of 700,000 individuals bringing in 3.2bn a simple calculation shows that the 2004 GDP could be covered by approx. 11.1 million people working abroad and that one person would bring in approx. 4,500 EUR per year. On the local level the working force is of about 9.3 million people standing for the same 51bn. with an average salary of yearly EUR 3000 (ok, those are some grossier calculations with several assumptions taken).

Now, the difference between the abroad workers and the local ones is their qualification. Most of the former are non-qualified while the opposite is available for the latter. However, even without all the above calculations it is clear that the according productivity is exactly the reverse.

This is one of the most important aspects which should be on the national agenda. How do we become more productive? It is not about the EU or NATO it is rather about how we create value more efficiently on the national level. And the low level of labor costs will change as a direct consequence.

This is something I have never seen in any of the problems posed by the officials. And IMHO together with creating a sound business and living environment IT IS the #1 item on the national agenda. Being part of EU, NATO or whatever will just be a consequence of solving this combination.