| FROM ECONOMIC FIGURES TO ECONOMIC DIPLOMACY (6.07.2007) |
| (2007-07-06) |
| Last updated: 2007-07-09 16:24 EET |
According to estimates by the /Economist Intelligence Unit/ (EIU), Romania will register a 6.5 economic growth rate, as compared to an average of 5.9% in the new EU member states. Inflation is also expected to go down, even below 4.1 %, as compared to the 4.3% average in the countries that joined the EU in 2004.
According to another survey, this time by the consultancy firm /Ernst&Young/, Romania ranks 7th in Europe in terms of attractiveness for foreign investors. As many as 140 foreign direct investment projects were carried through in Romania in 2006, 63% more than in 2005. The upward trend of the economy, noticed by foreign financial and economic rating agencies, has been acknowledged by the Romanian authorities. Romanian officials have estimated that Romania’s GDP will be of 124 billion Euros in 2007, which would translate into a 6.5% economic growth rate.
Romanian Minister of the Economy and Finances, Varujan Vosganian has announced that Romania’s GDP reached 6%, in the first quarter of the year, constructions and industry being the main economic sectors that have contributed to this increase. Between January and March, investments increased by more than 17%. The inflation rate in the same period stood at 0.35%, that is 0.11 percentage points below the European average. Vosganian has made public these figures at the annual meeting of Romania’s economic counsellors and commercial representatives abroad.
The Romanian minister has pointed out that from now on, Romania should develop an economic diplomacy for regaining markets outside the EU, in the former Soviet Union, the Caspian Sea region, China and North Africa. At present, Romanian exports go, for the most part, to EU countries, half of them being directed to Italy, Germany and France. As for imports, more than half of them come from 5 countries.
Worth mentioning is that Russia and Ukraine are two of those 5. The Romanian economy minister has also pointed out that the country’s trade deficit increased in the first months of the year, but it will be, for the most part, covered by the money sent by the Romanians living abroad. The estimate sum will range between 5 and 6 billion Euros in 2007. According to the National Statistics Institute, in the first 4 months of the year, Romania’s trade deficit stood at 5.6 billion Euros, 65% higher than same last year.
(Andreea Bojoi)
|
2025-04-03
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