Nomura forecast: Romania's GDP in 2025, below Serbia's, Bulgaria's

Romania will be outranked by Serbia and Bulgaria by 2025 in terms of its Gross Domestic Product, found a recent study by Japanese brokerage and business consultancy Nomura. The study, called 'Europe will work', forecasts Romania will have a lower Gross Domestic Product (GDP) in 2025 below that of Serbia and neighbor Bulgaria. Talking about Romania and Bulgaria, the Nomura analysts found that the two countries will be an important test bed for the EU in determining whether such a combination is sustainable. “Both countries are looking to join the euro soon, even though national sentiment has softened due to events in the euro area. Romania seems in many ways the more determined to join and has less institutional reforms to undertake,” the study goes on. The analysts expect the country to join the eurozone in 2016, together with Poland and Croatia. Romania should join the European Exchange Rate Mechanism (ERM II) in 2013, while Bulgaria will join with a one year delay. Get the full study here. editor@romania-insider.com