Romania occupied the 50th place in 2016 regarding prosperity, from the 57th place in 2017, with a growth rate over the Central and Eastern European average from the last 10 years, according to a study on prosperity published by Legatum Institute and supported by Erste Group.
Romania occupied the 50th place due to the improvements in personal freedom, as well as the optimization efforts of public administration. On the other hand, the indicators of business environment and economic quality got worse. Also, the country reached the lowest score of trust and one of its greatest vulnerabilities. Overall, the Romania’s score for the nine analyzed pillars indicate a volatility that exceeds the ECE average.
„The trust capital role is more than essential- a low score affect many fields, such as public administration, economic quality and the business environment. When people don’t trust that their citizens respect the rules, that institutions apply these rules correctly or that everybody wants the public good, other field of public area suffer,” said Shanker Singham, director of economic policies within Legatum Institute.
The Legatum Prosperity Index classifies the countries in nine different fields: economic quality, business environment, public administration, education, healthcare, security and safety, personal freedom, trust capital and the natural environment. It measures both the material wealth, as well as the social wellness.