Economy Minister Vosganian: Investments in Romanian economy to go higher than 50 bln euros in 2009

Investments in the Romanian economy will total 47.7 billion euros this year and they will go higher than 50 billion euros in 2009, Economy and Finance Minister Varujan Vosganian said at the Victoria Palace (the govt’s offices) on September 24.
The investments this year will be by 10 billion euros higher than last year, he added.
Of the total 47.7 billion euros invested in the Romanian economy this year, 10 billion euros represent public investments (made from the state budget), 10 billion euros is foreign investment and 27.7 billion euros is investment made by the private sector.
„In 2009 we’ll exceed a level of investments of 50 billion euros, and the public investments will be higher than 20% of the public spending”, Vosganian stressed.
According to the authorities’ estimates, next year the inflation will drop to 4.5% and the current account deficit will narrow to 12%.
Next year’s budget will be built on a deficit at 2% of GDP, with the deficit to narrow to 1.6% of GDP in 2010, to 1.2% of GDP in 2011, and to 0.9% of GDP in 2012.
Exports will rise faster than imports next year as well. Vosganian predicted the exports would rise by 18%, while the imports will grow at some 10 – 12% next year.
„2009 will be the first year when the number of employees will exceed five million”, he said.
The minister reiterated that 2008 is the best economic year in the Romanian modern history.

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