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September 29, 2020

IMF: Romania is the poorest EU state

Romania is among the worst-performing countries of the European Union during 2009-2011, according to the latest report of the International Monetary Fund (IMF), Money.ro informs. The living standard – actually the ratio between Romania’s GDP per capita and the purchasing power – dropped 6 pc last year against 2008, to USD 11,869. Until last year, Bulgaria was the European country with the lowest living standard. IMF data also show that Bulgaria last year had a GDP per capita on a purchasing power parity basis, of USD 11,883, higher than Romania’s. According to estimations included in the IMF database, the gap between the two states will widen until 2015, in favour of Bulgaria.

Poland and Hungary will end this year with a GDP above 18,800 USD per capita, while in the Czech Republic the index is nearing USD 25,000. The Gross Domestic Product per capita, on a purchasing power parity basis, is often used to compare the living standards of various countries. The index takes into account the inflation rate and the cost of living, among others.

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