Romania and Cyprus had the most substantial economic growth in the EU in the first quarter of the year, as compared to the previous three months, according to preliminary estimates released on Wednesday by the European Statistics Office. In figures, thanks to a 1.6% growth rate, the two countries are the EU leaders, followed by Spain and Bulgaria with 0.9 each, Slovakia - 0.8%, and France and Hungary - 0.6% each.
At the opposite pole we find Lithuania, Estonia, Greece and Finland, which have reported decreases. The year-on-year rate Romania has reported, 4.2%, is also the largest in the EU.

However, the geopolitical context requires special attention. The European Bank for Reconstruction and Development says East Europe should strengthen its capacity to withstand shocks, as the countries in the region risk being affected by the political and economic problems in Russia, Ukraine and Greece. Central European countries enjoy an economic recovery supported by domestic demand. However, bad loans are still a problem, while Russia and Ukraine remain in recession, which might affect growth in other countries, says the EBRD. In addition, it is impossible to estimate the impact of the Greek exit for its neighbouring countries, given that Greek banks are operating in countries like Bulgaria and Romania. Beyond political promises, Bucharest needs to take concrete social and economic measures to support underprivileged people.