Each Romanian lost a 1,000 euro holiday because of the crisis

2009 GDP registered the steepest decline of the past two decades in terms of absolute value, in euros. GDP per capita lost 1,000 euros last year, to 5,390 euros as a result of the economic downturn, with Romania stepping two years back on the road toward convergence with Western Europe. Romania thus ranks 26th in the UE, ahead only of Bulgaria, where GDP per capita reached 4,454 euros, according to Eurostat data and ZF calculations. The indicator shows a country’s economic strength, being more relevant in comparisons than other indicators such as absolute GDP or the trend of the economy. “We’ll regain what we lost in the crisis within two years,” maintains Ion Ghizdeanu, chairman of the National Forecast Commission. At the end of 2009 and early 2010 the first encouraging signs of a rebound and of a gradual resumption of economic growth emerged, stated Vergil Voineagu, chairman of the National Statistics Institute (INS) yesterday. “The signals will not be solid enough to see a rapid growth trend,” INS chairman specified, though.