EIU: Romania’s economic growth to reach 2.4 pct in 2013

Romania’s economy will advance 2.4 per cent in 2013, boosted by bumper crops and a rise in exports to non-EU countries, while the growth rate should speed up in 2014-2017 to an average annual rate of 4 per cent, the Economist Intelligence Unit (EIU) says in its latest report on Romania’s economy.

EIU warns that its forecasts for 2013 could be negatively affected by some new external shock or a deeper recession in the Eurozone.

EIU analysts argue the odds for foreign direct investment recovering in Romania before end-2017 are very long. On the other hand, improvements in the absorption of European structural funds could contribute to investment in infrastructure, which could boost the long-term export potential. Romania has won structural funds of 20 billion euros for the years 2014-2020, compared with 20 billion in the years 2007-2013. Romania also got funds of 17.5 billion under the Common Agricultural Policy for 2014-2020, up from 13.8 billion euros in 2007-2013.

EIU says the absorption rate of the structural funds could exceed 12 per cent, as recorded in the years 2007-2013, but administrative deficiencies and the need for the Government to co finance projects would restrain the prospects for a significant rise in the absorption rate.(National News Agency AGERPRES)

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