Vosganian estimates that, in 2008, GDPs growth will stand at 8.5%

Romania will have to register, this year, a 8.5% economic growth, Minister of Finance Varujan Vosganian said at a meeting of the European Finance ministers, Dow Jones says.
“This will be the best performance in the modern history of Romania, “ said Vosganian. At the meeting in Nice, the Finance minister announced that in the first half of this year Romania reported a growth in the GDP of 8.8%, and a “very good” growth is expected for the third quarter of the year, too. Some economists say that a solid agricultural production, after the drought last year could lead to a more than 10% rise in GDP in the third quarter.

Vosganian also said he expects a solid growth also next year, with Romania “continuing the good trend in the economic cycle.” Romania hopes to join the Euro area in 2014, after it enters, for two years, the ERM-2 mechanism.
With a record advance in GDP of 9.3% in Q 2 this year from the same period last year, Romania ranks first among the 27 EU member states, reads a preliminary estimate recently published by the European Statistics Office Eurostat.
According to data put forth by the National Statistics Institute (INS), Romania’s GDP stood at 109.019 billion lei in current prices in Q2, up 9.3% in real terms from the same period last year. In H 1 2008, GDP stood at 195.764 billion lei, after it rose 8.8%. The target of economic growth for this year stands at 6%.
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