Property in Romania

Romania’s economy expected to grow by over 7 percent in 2006

Romania’s economy is expected to expand by more than seven percent in 2006, following strong growth in the first two quarters, the head of the country’s main statistics agency said Friday.
“Looking at the signs from the first two quarters … I am convinced that it (Gross Domestic Product growth) will be over seven percent,” said Vergil Voineagu, chairman of the National Statistics Institute.

The institute said the GDP expanded by 7.4 percent in the first half of 2006 as compared with the same period last year.

After several years of deep recession in the 1990s, Romania’s economy has grown strongly in recent years. In 2004, it expanded by 8.3 percent, while in 2005 growth slowed to 4.1 percent due to floods which cause widespread damage to agriculture.

Date posted: September 3, 2006