Romania’s Non-Lockdown Economy Outperforms Rest of EU

The last 12 months have been devastating to many economies and societies. In parts of Europe, particularly Spain and Italy, the economic situation has been in near free-fall due to governments’ obsession with shutting down businesses and schools, and instituting travel bans to supposedly contain the coronavirus.

In Britain, the government’s suicidal economic policies made more than 70,000 households into homeless since the start of the pandemic, with tens of thousands more threatened with homelessness.

However, not all European governments have allowed panic and paranoia, or the futurist ideological believes of the World Economic Forum – to guide their decision making during the alleged ‘global pandemic.’

Rather than imposing draconian measures on its people, the Romanian president opted for a ‘soft lockdown’ in the autumn and during winter holidays. The more measured strategy appears to have paid dividends in more ways than one.

Bloomberg News reports…

Romania’s economy outperformed the rest of the European Union last quarter as the government opted not to impose the kind of harsh lockdown that shuttered most of the continent.

Output not only grew from the previous three months, but surged more than 10 times what analysts had expected. The expansion of 5.3% puts it ahead of all other EU members to have reported data so far.

The fourth quarter was good for other parts of eastern Europe too: Hungary and Bulgaria both unexpectedly recorded growth from the previous three months, according to numbers published Tuesday. Lithuania looks set to be the EU’s best performer last year.

Romania has officially dodged a recession during the pandemic by only notching one quarter of economic contraction, between April and June.

Charming Burcharest, the capital city of Romania (Image Source: Kami)

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