Advertise On EU-Digest

Anual Advertising Rates

12/30/16

EU: Will Bulgarians and Romanians be toasting their ten years in the EU?

Bulgaria’s GDP per capita was 41 percent of the EU average when it joined in 2007, rising to 47 percent in 2015, the latest year for which data is available.

Romania’s, meanwhile, stood at 57 percent in 2015, up from 43 percent in 2007, according to data from Eurostat.

There is also a smaller proportion of people in both countries at risk of poverty or social exclusion.

In Bulgaria, around 60 percent fell into this category in 2007, falling to 41.3 percent in 2015.

In Romania the figure fell from 47 percent a decade ago, to 37.4 percent in 2015.

Yet despite these positive indicators, people in Romania are not all feeling this in their pockets, Romanian political analyst Radu Magdin told Euronews.

“Yes you can say we registered economic growth, yes you can say after the economic crisis Romania is the economic tiger of Europe,” he said. “But there is some frustration – which is not attributable to Europe – in the sense that the economic growth is not being reflected in people’s pockets.

“The structure of the economy is mostly based on exports. The profits being made by multinational companies are reflected in this growth but it’s very difficult to translate this growth into people’s pockets because we’re not talking redistribution.”

Read more: Will Bulgarians and Romanians be toasting their ten years in the EU?

No comments: