BUSINESS

Romania may be one of poorest countries in Europe by 2060

Romania may report one of the slowest economic growth in the European Union (EU) in the next 50 years, beside Moldavia and Armenia, after a European Commission (EC) report estimated a potential GDP growth rate of 1.1 pc for the 2010 to 2060 term, against an EU average of 1.4 pc, Money.ro reports. In 2010, Romania’s GDP per capita, adjusted in terms of purchasing power parity, amounted to 37 pc of the EU average, the lowest ratio in all member states. According to the EC’s long-term forecast, Romania’s living standard will amount to a mere 39 pc of the EU average by 2060, as compared to 55 pc in Bulgaria and 76 pc in Poland. The estimate for Romania was reduced by 0.7 pc from the preceding report, launched three years ago. The country’s growth rate will continue to slow down in the next decades, as the population is getting older.

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