Tuesday, September 25, 2007

Dnevnik daily: Bulgaria suffers deficit, Romania slows down growth

Sofia. Bulgaria and Romania are still going up the ladder with hard-felt steps and suffer low GDP rate. According to Romanian Business Standard the two face specific economic challenges. Bulgaria has a higher economic growth, but a higher current account deficit. For the first half of 2007 the country had an economic growth of 6.4% on an annual base, outstripping Romania with 0.6%.

Analysts have negative forecasts for the second half, even though the two have a higher than average GDP of the EU. At the same time the GDP per capita is only 34% of that of developed countries from the EU. According to latest economic reports Romania is better prepared for the euro currency. The two countries will have to reach European standards, which will guarantee healthy growth in the next years. Bulgaria is getting closer to the EU parameters in the services sector. (Dnevnik daily)

No comments: