Analysis 16 Jun 16

Romania’s Economic Recovery Comes at a Cost

It is forecast to have one of the fastest-growing economies in Europe this year - but underlying weaknesses continue, and the average Romanian has yet to see real benefits.

Marian Chiriac

Ask Simona Bogdan about the end of the economic crisis in Romania and she rolls her eyes. The 39-year-old inspector in a Bucharest-based government body tries to see the glass at least half-full.

”My salary recently rose by around 10 per cent. That was the only good news for me in recent years. Otherwise, there is no clear sign that life is improving, despite the official data showing that the country is fully recovering,” Bogdan says.

Many Romanians agree with her, saying that even if the period of austerity and painful reforms has come to an end, the public has yet to see real results.

Six years ago, crisis-hit Romania adopted many austerity measures aimed at tackling the country’s financial crisis.

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