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Thursday, December 02, 2004

Romania's GDP to dip by 40% below EU average

The Gross Domestic Product (GDP) per capita in Romania, an index which is calculated in relation to purchasing power, will account for less than 40% of the average reported by the enlarged European Union by 2015, according to estimates released by the Vienna Institute for International Economic Studies (WIIW).

The report also includes data regarding countries such as Bulgaria, Croatia, the Czech Republic, Hungary, Macedonia, Poland, Slovakia, Slovenia, Russia and Ukraine.

The WIIW estimates took into consideration a forecast of economic growth for the transition countries of two percentage points above the pace of the enlarged EU.

According to the WIIW prognosis, Romania and Bulgaria's GDPs is expected to rise in this period, but to only 30% of the EU average.
Analysts expect Romania, Bulgaria and Ukraine to report a GDP per capita under the average growth level within the EU member states.
However, the level in the two countries approaching EU accession - Romania and Bulgaria - could see their GDP per capita growing in the 30-40% bracket.

Ukraine's situation is not as bright, as the country's GDP per capita growth is expected to slow, rising by a little over 30% of the communitarian average.

Posted by Iulia Rasoiu : 12/02/2004 10:13:00 am