Page 10 - THE ROMANIAN HEALTH CARE
P. 10
While the macro-economic numbers look positive, economic growth is based in reality on
rising public sector wages and the greater consumption they have generated. This also
explains the inflation increase projected for 2018. In line with the above, the government’s
budget deficit is growing, but still within the EU requirements.
Figure 1.2 - Main economic indicators
8.0
6.0
4.0
2.0
0.0
2010 2011 2012 2013 2014 2015 2016 2017 2018
-2.0
-4.0
Economic growth rate (GDP) Inflation rate (CPI)
Source: Eurostat, 2018 projections from IMF
In contrast with this high economic growth, the size of the Romanian economy is modest in
absolute terms. In 2017, GDP was 188 billion euro compared to the Dutch economy of 733
billion euro. The GDP per capita – an indicator for the income per head of the population –
grows rapidly reaching its highest level in 2017 at 9,600 euro.
Figure 1.3 - Development of GDP per capita
Still there is a large gap between
12,000
Romania’s GDP in 2017 and
10,000
those in the Netherlands (42,800
8,000 euro) and the EU (29,900 euro).
However, these figures do not
6,000
take price differences into
4,000 account: price levels in Romania
are considerably lower than in
2,000
the Netherlands.
-
2010 2011 2012 2013 2014 2015 2016 2017
GDP per capita in EUR
Source: Eurostat
8
