BUCHAREST, November 2, 2021 - In response to interest in Romania’s growth performance, we are clarifying the World Bank’s recent remarks on this topic during the “Caravana Smart City Sibiu” videoconference on October 29. The recording of the conference can be accessed here.
The World Bank projections at the conference were based on past trends and historic economic performance identified in publicly available data. The data indicates that Romania’s growth performance in the last two decades was the highest in the European Union (EU), with GDP per capita in Purchasing Power Standards (PPS) growth averaging 5.2 percent per year between 2000 and 2020 relative to the EU27 annual average of 2.3 percent. This has allowed Romania to converge with other countries in the region.