What did the Romanian economy have before the crisis and what did it lose? Elsewhere in the news, consumption will remain low in Romania in 2010 as well. Last but not least, Kazakhstan wants Romania on the Oil Road.
Adevarul reads what did the Romanian economy have before the crisis and what did it lose? Romania's GDP increased by 7.1% two years ago, only to turn to a minus in 2009, with sectors like constructions and commerce leading the way downwards. Romania, Bulgaria, Hungary, Slovenia and the Baltic States are the main losers of the economic crisis, the newspaper goes on. The economies of these countries recorded the biggest drops last year.
In 2009, the Romanian economy produced 116.19 bln euros, namely 491.27 bln lei. In 2008, Romania's GDP read 503.95 bln lei, when the economy recorded a 7.1% plus. The same percentage turned to a drop last year, with all sectors contributing to it, according to the Romanian National Institute of Statistics (INS).
Poland is the only European country that managed to avoid recession; Western economies had moderate drops, while Romania, Slovenia, Hungary, Bulgaria and the Baltic States lost quite a lot. Estonia, Latvia and Lithuania or their GDP diminishing in Q4 2009 by 9.4%, 17.9% and 13%, respectively, against the same 2008 period, mainly because of the Government's debt level and of the private sector.
Romania, Bulgaria, Hungary and Slovenia lost over 5% of their GDP due to the crisis. All three countries were depending on external financial aid. Investments in Romania dropped by 25.3%, the population's consumption - by 9.2%, while the industry saw a 4.3% minus. Romania's budget deficit recorded -7.4% in 2009.
Speaking about consumption, it will remain low in Romania in 2010 as well, according to Evenimentul Zilei. The large Romanian public cannot afford to renew their
