Headquartered in Dusseldorf, LEG Immobilien AG is Germany’s largest real estate developer, according to Forbes. The company reported a net revenue of
Is Romania a poor country? I’ve heard that many people earn below 200 euros per month, and many only 100.
No. Romania is already a developed country. Starting 2016 Romania made it to the selected reported by the (UNDP).
Romania’s economy is the fastest growing economy in EU and it is expected to maintain high growth. Thus it is expected to grow by 5% (revised up) in 2016,, following an ascending trend from (revised up second time). A lot of Romanian grey economy is starting to surface, backed up by the sustained fight against corruption.
Update: In 2017 Romania had a GDP growth of 7%, largest in EU and one of the largest in the world. Romania is on it’s way to become a top 10 economy in EU (currently ranked 13 by Nominal GDP PPP). Romania is expected to , ahead of Poland and Hungary. Latvia and Poland will reach 90 percent of EU average in 2030, Estonia in 2034, Hungary in 2035, Croatia in 2041 and Bulgaria in 2042, the Open Society Institute estimates.
Minimum legal gross monthly salary in Romania starting 1st of Feb 2017 will be RON 1450, which at the moment I am writing this (Jan 2017) is approximately €320.
Update: Minimum legal gross monthly salary in Romania starting, which at the moment I am writing this (Nov 2017) is approximately €410.
Considering thein EU, that’s not very bad. For the reference Eurostat recently released data regarding price level index for food and non-alcoholic beverages across european countries. You will see that , even cheaper than some non-EU countries such as Albania, Serbia and Turkey.
Please also factor in the fact that Romania has thein the world . The data is backed up by recent
(after Japan and Taiwan) and highest in EU. That will put an additional pressure on increasing salaries in order to attract and keep talent. And sure enough Romania is the leader of the European Union in the , soaring by 14.7 percent in the third quarter of 2016. .
Eric Stab, president of the Foreign Investors Council recently declared that Romania has the potential to become a. So far that is on target. The Foreign Investors Council (FIC) Romania constituted in 1997, brings together over 130 multinational companies.
Romania has low debt: namely 5th lowest public debt in the EU, amounted to only 38.4% of the GDP (SEC 2010 methodology). In comparison at EU level, the average public debt amounted to 85.2% of the GDP while in the Eurozone, public debt average amounted to 90.7% of the GDP.
Romania is one of the most top 3) in the EU, soon to achieve full energy independence by 2020. Romania is also rich in natural resources (oil and gas) in the Black Sea. Romania also has the largest gold deposits in continental Europe.(
Romania currently has a general, causing prices to drop over the last year period and one of the lowest taxation systems in EU (16% universal flat tax).
Foreign direct investment in Romania in 2016 reaches 10 years total FDI amounts to EUR 41 billion.. Over the last
Additional to the FDI Romania attracted almost.
Real estate prices on the other hand are , stimulated by high demand, on a market that already grows aggressively.
Personal remittances back to Romania from Romanians working abroad for the last ten years exceeds both FDI and EU founding and amounts to EUR 52 billion. All those millions of Romanians that still keep romanian residence and enjoy freedom of movement in EU, appear in romanian statistics as no income individuals, artificially and negatively affecting the averages and generating a deformed picture of wealth distribution, while creating the real estate paradox (people with no income that demand and purchase property extensively).
In 2016, almost double (88% growth) since last year.
Romania is a bigger country (7th biggest in EU28) and it has much contrast with vast rural and wild areas. Wealth in Romania is concentrated around the top 5 cities. Because of the size of the country, it will take some time for the wealth to become more homogeneous throughout all areas and improve the averages. A lot of people live in rural areas doing agriculture, a lot of times with no official registered earnings. Those people might live on little money, but housing and food is usually taken care of.
Bucharest, the capital city and the surrounding metropolitan area surpasses metropolitan areas like Madrid, Berlin or Budapest, with a.
Finally I would like to wrap up this answer with thethroughout it’s journey .