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BNR: GDP per capita has grown 26 times in last 100 years


Liviu Voinea, the deputy governor of the National Bank of Romania (BNR) said, on Tuesday, that GDP per capita in Romania has grown 26 times since the Great Union.

“In the last 100 years, GDP per capita has grown 26 times, by 2,652%. In the first five years since the Great Union, GDP per capita grew by 36%”, said Liviu Voinea, the deputy governor of BNR at the launch of the book “A century of sincerity. Recovering the lost memory of Romanian economy: 1918-2018,” which he coordinated.

BNR economists Alexandra Cojocaru, Brandusa Costache, Veaceslav Grigoras, Horatiu Lovin, Camelia Neagum David Ortan and Andrei Tanase participated in the make of the book.

GDP per capita was 866 dollars in 1918, while in 2018 it is estimated to be 23,323 dollars.

“1919 was the first year with all provinces reunited, a complete year,” Voinea said. Then, GDP per capita was 861 dollars and there was a quick growth to 1,299 dollars until 1926.

“Then, during the inter-war period, the economy was affected by several recessions and the increase was more modest until the end of WW II,” Voinea said.