100 YEARS NEEDED FOR BULGARIA TO REACH STANDARDS OF LIVING IN EU COUNTRIES

09:06 Fri 06 Jul 2007

Despite the fact than new EU members from Central and Eastern Europe make serious efforts to reach the standard of older members, much more is to be done to achieve the goal, UCLA university analysis showed.

UCLA said that Bulgaria needs 100 years to reach the living standards in Western Europe. This is the longest period that research covered, investor.bg reported.

Slovenia will achieve the levels in the shortest period of five years.

Hungary needs from 30 to 35 years, the Czech Republic- 25 years and Romania- from 45 to 50 years.

Central and Eastern European countries have attracted capitals of $240 billion since 1989, UCLA said.

Salaries in the region equaled nearly seven per cent of those in Germany and Austria in the beginning of 90s, now the figure is 20 per cent.

People working in small and medium-sized companies in old EU members form 50 per cent of the countries' labour force while in Eastern Europe the percentage is sufficiently lower reaching only 10 per cent in some regions, research said.

Comments

Comments by Allan - 01:23 07 Jul 2007
	An appropriate way of utilising and integrating new and rapidly spreading technology, if formulated to take account of regional preferences and customs may generate a standard of living in Bulgaria and other east European countries that could equal that of western Europe within a very few years years. Also that the quality of life of Eastern Europeans could surpass and be the envy of many western Europeans.
Comments by Michael Kelly - 02:08 07 Jul 2007
	It may be true that such an extended period is necessary, but I for one do not believe it. Things move much faster, and commerce spreads to the countries with the lower economies first. Bulgaria, then, will achieve not only a state of equality, but superiority to many in a much shorter time. Have faith in your wonderful country. I do.