Over the past five years, Romania has most swiftly narrowed the gap with rich countries of “old Europe”, compared with other Eastern European countries, IPN reports, with reference to an analysis by the Sofia Institute for Market Economics based on Eurostat data, which was published in “Dnevnik.bg”.
The data, focused on Bulgaria, show that by 2022 the country’s economy exceeded 62% of the EU’s average GDP per capita in purchasing power parity.
The analysis also shows that if we the bottom of the previous crisis of 2009 is taken as a starting point, Bulgaria narrows the gap by 18 points, while Lithuania - by 32 points, Romania - by 24, Estonia - by 21, Latvia - by 20, while Poland – by 19, all going from a higher starting position.
In other words, in terms of GDP per capita, Bulgaria in 2022 is like Romania in 2017, Latvia in 2013, Lithuania and Poland in 2010 and Estonia in 2010, the researchers find.
Among the first recommendations under these conditions is “to stop the political hysteria about emergencies, crises and catastrophes and return to thinking in the context of normality and with (at least) a medium-term horizon”. And one of the many problems to overcome are investments, which in Bulgaria “in real terms will be more or less at the level of 2010, that is, de facto stagnation, while, for comparison, in Lithuania they have more than doubled, while in Romania rose by 57%.
The researchers’ major conclusion is that Bulgaria’s rapid economic growth would only be achievable by unlocking investment potential – from attracting world leaders in high-value-added manufacturing and services to reinvesting to expand capacity and technologically transform already existing successful enterprises in the country. “If this happens depends on both the adaptability of decision-making entrepreneurs and managers’ ability to provide a horizon of fiscal and regulatory predictability and to also change their approach to attracting new large investors.”
In this respect as well, Romania sets a good example, not only for its neighbors from over the Danube, but also those from over the Prut.
IPN reported that at the fourth meeting of the Moldova Support Platform for Moldova, which took place in Chisinau last October, Secretary General of the Romanian Government Mircea Abrudean spoke about the possibility of creating more instruments to promote trade and investments in Moldova. “Romania has actively supported Moldova in these reforms as a strategic partner and strong partner. We are going together with a number of comprehensive projects that will help Moldova get closer to the EU, build bridges, power grids,” said Mircea Abrudean.
