Property in Romania

Finance minister: Romania could be a top 10 EU economic power by 2020

The Romanian economy saw an 8.6% rise in the first half of the year, because of a good agricultural year, and if the GDP growth rate and the investment dynamics are preserved, Romania could become one of the top ten EU countries by 2020 in terms of economic strength, according to the Minister of Economy and Finance, Varujan Vosganian. “We have not had such a high economic growth for at least twenty years. It is hard to compare this with the time before ‘89, but these are record levels for the period since the introduction of the GDP index,” said Vosganian.

In the first quarter of the year, the GDP climbed 8.2%, while the growth rate recorded in the second quarter of the year amounted to 8.9%. The MEF official said Romania could climb to the 12th position in the ranking of European states in terms of GDP, from the 17th place at present.

Date posted: August 31, 2008