From Roaring Economy to Recession, Romania Confronts New Reality
The country used to be one of the most dynamic in the region. Now it’s faced with some of the worst metrics in Europe.
Romania’s economic boom has ground to a halt.
Photographer: Andrei Pungovschi/Getty Images
It was one of Europe’s fastest growing economies a few years ago, but the fact that Romania is in recession comes as little surprise to Bucharest restaurant owner Adrian Selareanu.
To keep afloat, Selareanu, 50, changed suppliers and reduced staff, serving his customers himself alongside his wife. That wasn’t enough, though. After 15 years, he’s closing the doors, tipped over the edge by rising energy bills, higher taxes and an exodus of customers.