Romania remains 17th economy in EU, gets closer to Greece

Romania’s gross domestic product (GDP) reached EUR 169 billion in 2016, after a 4.8% economic growth last year, the highest in the European Union. Romania remains the 17th largest economy in the EU, although it has the 7th largest population, according to data published yesterday by Eurostat. In 2015, Romania’s GDP reached EUR 160 billion. Following the evolution from last year, the country approached the economies of the Czech Republic, Greece, and Portugal. These are countries that have between 10 and 11 million inhabitants, but their economies are slightly larger compared to Romania. The Czech Republic recorded a GDP of EUR 174.5 billion in 2016, up from EUR 167 million the previous year. Greece saw a slight contraction to EUR 175.5 billion. The economy of Portugal rose to EUR 185 billion from EUR 179.5 billion in 2015. Romania’s GDP could exceed that of Greece this year, according to economists. In the next years, it could also surpass the economies of the Czech Republic and Portugal. Comment: Romania’s record economic growth comes from malls, supermarkets and glass buildings editor@romania-insider.com