The state of affairs of Project Management
professions within a badly hit economy

After months of continuous plummeting, following an abrupt economic slump at the end of 2008, all seems to be frozen and paralyzed when one looks at the natural reflex of investors to venture their cash for new projects. There is something barely noticeable in the field of development these months worth to be mentioned or highly profiled. If in a winter everyone was looking towards the major events like G20 Summit in Davos or IMF/WB delegation to talk to the Government officials and hoping for a happy ending of this period, we are now deep in the recession period without a clear action plan in place meant to drag us off the slump.

It is largely understood that Romania cannot be better than the rest of European economies and they are synchronically connected. If one suffers the other feels the pain as well. When Hungary and Ukraine applied for an emergency financial aid from the IMF, analysts were absolutely certain that Romania didn’t need any financial support package. The IMF delegation arrived almost low profile in Bucharest for discussions with National Bank Governor, Prime Minister and the President. It turned out evidently that a new stand-by agreement conclusion was imminent. Even though the public is largely divided as pro and against the agreement, on 25^th of March an official press release has announced that Romania will get a 20 billion euro, the biggest portion from IMF and World Bank, to help the economy and currency avoid a major decline and skyrocketing inflation.

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