Vosganian: World crisis will affect Romanian real estate sector

Romanian Minister of Economy and Finance Varujan Vosganian stated on September 25 while paying a visit to the eastern city of Iasi that prices in the Romanian real estate sector are excessively high and that we are to watch a drop in such prices, as following the world’s financial crisis.
According to him, the same thing will happen in the industrial constructions sector, where there are to be seen cuts in the prices too.

The Minister of Economy and Finance is currently paying a 3 day visit to the Iasi municipality to take part together with tens of economists from both Romania and abroad in a seminar on the economic development of such states members of the European Union.
The central theme of the conference in Iasi was established “The Future Europe in a World of Incertitude.” Such issues to be approached will be: “Global Trends and Consequences on Europe,” “Incertitude of World Economic Evolution Correlated with Regional Imbalances” and “Competition and Convergence in Europe.”
The seminar will be carried out over September 25-27 and will bring together economists from 20 countries such as Belgium, Germany, Canada, France, Spain, UK, Russia, Bulgaria, the Czech Republic, Slovenia, Latvia, Lithuania, Luxembourg, Greece and the Republic of Moldova.
Moreover, there are to come to Iasi representatives of several international bodies such as the  International Monetary Fund, the European Commission and the Organization for Cooperation and Economic Development.
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