FinMin Vosganian: Romanian economy to stay on positive trend

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The Romanian economy will stay on the positive trend for the following five or six years, as the investments will attain 150 billion euros in the next four years, Economy and Finance Ministry Varujan Vosganian said on September 19.
 
“Romania ranks first in Central and Eastern Europe in terms of the European Commission’s acceptance of the programme eligible for European financing. We are ranked above Poland, the Czech Republic and Hungary”, the minister told debates on The Romanian Economy Looking Ahead to 2009 held in the Black Sea coast resort of Cap Aurora (southeastern Romania).
Romania, by this July, absorbed two billion euros worth of European funds, with the net benefit standing at 1.5 billion euros.
 
“The EU funds assigned Romania during 2007-2008 stand at five billion euros, and the total amount of the European funds is 25 billion euros”, Vosganian explained.
The foreign direct investments reached 30 billion euros, he said, adding they have covered one million Romanian employees so far.
 
The money earmarked from the state budget via the public policies totals 50 billion euros, Vosganian said. The funds for capital expenditure increased five fold last year compared to 2005, reaching 25 billion euros; this accounts for 18% of GDP.
Investments in the energy sector are worth 15 billion euros.
 
“The Romanian energy system generates two billion euros worth of annual investments from its own funds”, the minister pointed out.
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