fbpx Modifica setari cookieuri

SIMILAR ARTICLES

Eurostat data: Romania managed poorly good times but performed well when came to the end of its rope

Romania had in the second quarter of 2020 the fourth-lowest increase in public debt relative to GDP among the EU Member States compared to the… Mai mult

Government attacked the Mobility Package at the CJEU, arguing that European legislation affects Romanian companies

The Romanian Government notified, on Friday, the Court of Justice of the European Union (CJEU) with three actions in the annulment of the problematic Mobility… Mai mult

Finance Ministry announces payment incentives for budget obligations outstanding after the state of emergency announcement

The Ministry of Public Finance (MFP) proposes to regulate a simplified alternative procedure for granting a payment rescheduling of up to 12 months, for the… Mai mult

IMF improved its forecast for Romania: 4.8% decrease in 2020 and 4.6 % increase next year

Romania’s economy will contract by 4.8% of GDP this year, according to the revised forecast of the International Monetary Fund (IMF), a slightly more optimistic… Mai mult

Romania’s recovery – in WB Report: 2021 indicators compared to starting moment of Covid crisis

The data included in the autumn report of the World Bank “COVID-19 and Human Capital” which brings the forecast for Europe and Central Asia countries… Mai mult

Romania – country that benefited most from EU membership. Notice, though, experience of others!

de Marin Pana , 24.9.2018

Romania is the EU member state that has benefited the most from EU membership, with an increase in the standard of living expressed in GDP per capita at the standard purchasing power parity (adjusted with the country price levels) from only 39% in 2006 to 63% last year, according to data released by Eurostat.

The advance of 24 percentage points was above the one recorded by Lithuania (23pp), Poland (19pp, although it was the only country that went through the crisis without a decline in the economy), Malta (18pp, surprisingly positioned among colleagues from the 2004 accession round), Slovakia and Latvia (14 pp.) and Estonia (13 pp.).

*

  • GDP/capita     Advance in 2006-2017 compared to EU average
  • Country           2016    2017    Percentage points       Percentage
  • Romania
  • Lithuania
  • Poland
  • Malta
  • Latvia
  • Slovakia
  • Estonia
  • Bulgaria
  • Czech Republic
  • Hungary
  • Germany
  • Croatia
  • Austria
  • Denmark
  • Slovenia

*

Our EU accession round colleague Bulgaria, which started from a GDP/inhabitant level very close to ours (37% of the EU average at that time, only two percentage points below us), managed to advance by only 12 percentage points and is the only country left below half of the EU average, despite its intentions to join the Eurozone.

While the ten-point advance is a solid and sustainable one for the Czech Republic, with a certain approach to the West, Hungary has gained only 7 pp. and saw an increase in the standard of living by only 11% over the past 11 years, after going round in circles since 2014. It has thus achieved only a performance similar to the European driver Germany.

In fact, Germany is the only Western state that has benefited massively from the eastward expansion of the EU, followed from the distance by its sister Austria (+2pp, which ranks, though, slightly higher in the last year’s Eurostat statistics, with 128% of the EU average vs. only 123% in Germany’s case). Only Denmark has also managed not to lose ground to the EU average.

Surprisingly, there is also a state in the former socialist bloc that lost a percentage point to the mobile benchmark of the European average, namely Slovenia, which slightly regressed from 86% to just 85% of this benchmark. It joined several Western states that declined in relative terms, which is a natural result of the higher rhythms of development of new members.

*

  • Countries that moderately regressed compared to the EU average (2006-2017)
  • GDP/capita     Advance in 2006-2017 compared to the EU average
  • Country
  • Belgium
  • Sweden
  • France
  • Finland
  • Portugal
  • Netherlands

*

Unlike those countries that were relatively well yet not so well as the EU newcomers, but they had resources to support relatively minor losses in the GDP/capita (a notable exception is Portugal, which declined from where it had not actually the chance to advance, although it is an EU member since 1986 and accessed substantial funds during that time), we also have countries that lost more than ten percentage points compared to the EU average.

The most interesting situation is UK’s one, in fact, the only country that has managed to maintain the level above the EU average, but the negative feeling (caused by those who searched elsewhere for the blame that the EU had no use, on the contrary) brought the surprising vote that would lead to the UK leaving the bloc.

Other two relatively large economies, Italy and Spain, had a performance of pronounced speed loss, which (significantly to us who are also of Latin origins) was caused, to a significant extent, by the socio-cultural coordinates. Their situation has confirmed the assertion that it is not enough to reach a certain level, you also have to maintain there, which is not obtained by itself.

*

  • Countries that regressed significantly compared to the EU average (2006-2017)
  • GDP/capita     Advance in 2006-2017 compared to the EU average
  • Country
  • UK
  • Spain
  • Italy
  • Cyprus
  • Greece

*

This is also the case of smaller countries, not primary cousins, but almost sisters, Cyprus and Greece. The first has lost the target attained in 2006, of reaching the EU average, while the enthusiasm of approaching the same target was so high for the latter that it led to major economic policy slippages and a real collapse, from 96% to just 67% of the EU average.

These are some aspects and experiences at hand, from which we should learn so that we do not repeat the experience of others. Especially that we are, although obviously not British, both Latin and Balkan nationals.

Perhaps we shall succeed though in getting the Latin nature closer to France, and positioning ourselves in the Balkans, in terms of economy, as a sort of Poland, since we started to progress.

Mergeți în homepage ›

Publicat la data de 24.9.2018

Lăsați un comentariu


NEWS

New Renault boss: “Dacia is a miracle. It's time for the brand to flourish"

Luca de Meo (foto), the new general manager (CEO) of Renault group, considers that Dacia project proved to be a miracle and that no one… Mai mult

Pentagon transforms Campia Turzii unit into a NATO air hub at the Black Sea

A former Soviet airbase in central Romania could become a hub for US Air Force operations in south-eastern Europe, where the Pentagon is seeking to… Mai mult

Nuclearelectrica shareholders approved to terminate negotiations with Chinese for building reactors 3 and 4 from Cernavoda

Nuclearelectrica's Board of Directors has been mandated to initiate proceedings to terminate negotiations with China General Nuclear Power Group (CGN), as well as legal effects… Mai mult

Renault holds expansion of its plant in Romania, 15,000 jobs cancelled at global level

"Putting capacity growth projects planned in Morocco and Romania on hold" - is one of the measures included in the draft plan of Renault Group… Mai mult

Romania is a net importer of electricity in 2020 as well

Romania imported an amount of electricity of almost 796 GWh in the first month of this year, by more than 36% above what it exported… Mai mult

Shareholders of Galati steel plant promise investments of one billion euros

GFG Alliance has committed to invest one billion euros to upgrade Galati steel plant in order to reduce emissions and increase production. Another EUR 1… Mai mult

Transport Ministry announces it has sent to Brussels the financing request for Sibiu - Pitesti highway

The Transport Ministry, as the Intermediate Body in Transport, approved the financing request for the project "Construction of Sibiu - Pitesti highway", Sections 1, 4… Mai mult

Romania and Juncker Plan: EUR 720 million attracted, of which 35% by Transgaz for BRUA

(The map of investment financed through Juncker Plan, by GDP share. Darker colours mean higher shares) The operator of national natural gas pipelines, Transgaz (TGN)… Mai mult

Top 3 reasons why young people leave Romania

Lack of trust in authorities, corruption and low living standards are the main reasons why young people leave Romania. The data is part of a… Mai mult

IMM Invest Romania – program implementing rules have been published

The Ministry of Public Finance announces that it has issued the methodological norms for the implementation of the Program for supporting small and medium-sized enterprises… Mai mult

Pollution import and car park expansion: comparisons with the other EU states

Romania is the EU country with the fewest cars in terms of the number of inhabitants, according to data recently published by Eurostat. We appear… Mai mult

Government is trying to save budget deficit: reductions in public administration system, cancellation of bonus for harmful conditions, excise duty on soft drinks

The Government is preparing the public for the first measures aimed at avoiding the budget slippage, which would be applied by the PSD-ALDE government. News… Mai mult

Laura Codruta Kovesi remains alone in the race for European Chief Prosecutor

French Prosecutor Jean-Francois Bohnert will be appointed as head of the European Financial Prosecutor's Office, a position for which he was heard on Thursday, 11… Mai mult

Romania - EU country with highest risk of dying in a road accident, Bulgaria is quickly decreasing number of victims since it built motorways

Romania recorded the highest road deaths in the EU also last year, with 96 deaths per one million inhabitants in 2018, almost double the EU… Mai mult

Latest developments in progress at Health Ministry: Differentiated wages based on performance, competitions organised at a regional level not by hospitals

Sorina Pintea announced on Thursday further new changes that will be brought to the functioning of the health care system, including new rules for employment… Mai mult

ANAF changes selection procedure for liquidators. Main changes

The new order on approval and selection procedures for insolvency practitioners is an important step to a very good direction, industry experts say. ANAF is… Mai mult