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Monday, September 13, 2004

Romania GDP Growth

BUCHAREST, Sept 12 (Reuters) - Romanian Prime Minister Adrian Nastase said on
Sunday he saw gross domestic product growing by 7.5 percent this year
compared with the 6.5 percent official target, due to a good wheat crop.

Last month, Romania revised upwards its economic growth target for 2004 to
6.5 percent from 5.5 percent due to a better-than-expected GDP advance by 6.6
percent in the first six months of the year.

A statement by the government said Nastase hoped growth would reach eight
percent in the coming years.

Romania harvested a three-year record high wheat crop of 7.65 million tonnes
this year against 2.47 million in 2003.

Officials have said Romania, which hopes to join the European Union in 2007,
needs growth rates faster than the current 5-6 percent to catch-up with EU
levels.

But analysts say restructuring is key to ensuring a healthy GDP rise and to
prevent overheating as the country is striving to cut inflation to 9.0 percent
this year from 14.1 percent in 2003.

Posted by Mihai : 9/13/2004 01:05:00 pm