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BULGARIA AND ROMANIA SHOULD NOT EXPECT ‘ECONOMIC MIRACLES’ AFTER EU ENTRY
09:00 Mon 25 Sep 2006
 

Bulgaria and Romania’s EU entry could not produce economic miracles, as both countries were going to become members under the strictest measures ever.

The two countries would also have to prove to foreign investors they managed to reform their justice systems and implemented efficient measures against corruption, Dnevnik newspaper reported.

Economists presented these conclusions shortly before the issuing of the final European Commission monitoring report on the readiness of the two countries to join the EU.

According to initial prognoses Bulgaria was going to be subjected to strict monitoring on six problem spheres. The number of problematic areas for Romania was going to be four, Dnevnik reported.

The economic effect related to the accession of the two countries was going to be moderate.

Representatives of Economist Intelligence Unit said that a slight slowdown in the economic growth rate could be expected over the coming years.

Bulgaria was going to suffer from the inefficient functioning of institution, poor regulation and the demographic crisis, Dnevnik reported. In the most optimistic case it was going to need 68 years to reach European wage standards, EIU said.

 
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