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• Worst recession-hit Romanian counties

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  Jackie Bojor    Group moderator

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  Worst recession-hit Romanian counties

  All Romanian counties will register a decline in the development pace this year, shows a territorial projection published by the National Forecast Commission (CNP).
  
  However, large counties will see a slower decline, while the economic shrinkage in small and medium-sized counties will be more severe. Thus, in 2009, the Gross Domestic Product (GDP) will drop the least in Ilfov and Constanta (-2.7% each). On the following positions are Valcea County (-2.8%), Timis (-3%), Cluj and Sibiu (-3.1% each). The Capital City comes next with an expected economic setback of 3.2%. By contrast, the counties of Vaslui, Vrancea and Mehedinti are expected to report steep falls of -7.4%, -7.1% and -6.6% respectively. Next year, all counties’ development rate will revolve around 0%. The counties of Cluj and Constanta will see the most substantial growth, of 0.5%, while Vaslui, Calarasi and Mehedinti will register the most dramatic compression (-0.8% each). Basically, the trend remains the same, with small and medium-sized counties performing poorly in comparison with large ones that will have better results.
  
  The unemployment rate will follow a similar trend, staying higher in smaller counties. The best examples in this respect are Vaslui County (with an unemployment rate of 12.5% this year); Galati (10.7%), Mehedinti (10.7%), Hunedoara (9.8%), Teleorman (9,5%), Alba (9%). In large counties the unemployment rate stands around 5% in average, like in Bucharest (2.3%), Ilfov (3.6%), Timis (4.5%), Arad (5%), Suceava (5.3%), Constanta (5.9%), Prahova (6.2%).
  
  According to CNP chairman Ion Ghizdeanu, two are the reasons why smaller counties will have a slower rate of development and a higher unemployment rate: industrial production and agriculture account for a higher share here compared with other types of activities. For example, there are counties that rely on just one factory, and if the activity thereof is halted, the local economic regress is steeper, sending implicitly unemployment soaring. In larger counties, the economy is based on several types of activities, several economic sectors, so that the decline of some industries is partially offset by other economic sectors, the CNP chairman told Business Standard daily.
  
  Source: Rompres Newsletter
  
  Jackie Bojor
  FRD Center Market Entry Services - http://www.frdcenter.ro
  
  • 09 Jul 2009, 3:46 pm
  Jackie Bojor wrote: > All Romanian counties will register a decline in the development pace > this year, shows a territorial projection published by the National > Forecast Commission (CNP). > > However, large counties will see a slower decline, while the economic > shrinkage in small and medium-sized counties will be more severe. > Thus, in 2009, the Gross Domestic Product (GDP) will drop the least > in Ilfov and Constanta (-2.7% each). On the following positions are > Valcea County (-2.8%), Timis (-3%), Cluj and Sibiu (-3.1% each). The > Capital City comes next with an expected economic setback of 3.2%. By > contrast, the counties of Vaslui, Vrancea and Mehedinti are expected > to report steep falls of -7.4%, -7.1% and -6.6% respectively. Next > year, all counties’ development rate will revolve around 0%. The > counties of Cluj and Constanta will see the most substantial growth, > of 0.5%, while Vaslui, Calarasi and Mehedinti will register the most > dramatic compression (-0.8% each). Basically, the trend remains the > same, with small and medium-sized counties performing poorly in > comparison with large ones that will have better results. > > The unemployment rate will follow a similar trend, staying higher in > smaller counties. The best examples in this respect are Vaslui County > (with an unemployment rate of 12.5% this year); Galati (10.7%), > Mehedinti (10.7%), Hunedoara (9.8%), Teleorman (9,5%), Alba (9%). In > large counties the unemployment rate stands around 5% in average, > like in Bucharest (2.3%), Ilfov (3.6%), Timis (4.5%), Arad (5%), > Suceava (5.3%), Constanta (5.9%), Prahova (6.2%). > > According to CNP chairman Ion Ghizdeanu, two are the reasons why > smaller counties will have a slower rate of development and a higher > unemployment rate: industrial production and agriculture account for > a higher share here compared with other types of activities. For > example, there are counties that rely on just one factory, and if the > activity thereof is halted, the local economic regress is steeper, > sending implicitly unemployment soaring. In larger counties, the > economy is based on several types of activities, several economic > sectors, so that the decline of some industries is partially offset > by other economic sectors, the CNP chairman told Business Standard > daily. > > Source: Rompres Newsletter > > Jackie Bojor > FRD Center Market Entry Services - www.frdcenter.ro