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Wednesday, February 01, 2006

Romania Needs 30 yrs to Reach EU Development Level

Romania needs to register economic growth rates of 7% per year over the next 25 to 30 years to reach the development level of the European Union, stated the Deputy Director of Human Resources Department in the Ministry of Economy and Trade Constantin Parascho.

Romania needs to register annual rates of economic growth of 7 percent over the next 25 – 30 years to reach the level of Europen Union regarding development, as long as EU member states will reach development rates of 2 percent/year, said the MEC representative.

The top of economic growth is taken by China with 8-9 percent, followed by India, 6 – 7 percent, Russia and Brazil 5–6 percent.

The United States by 3 percent, and the EU an average of 2 percent, while the global economy has grown by 3.6 percent in 2005.

In Romania, the economic growth for 2005 was 4,2- 4,5 percent of GDP, over half of the level reached in 2004, when the economic growth was 8, 3, according to the preliminary data presented by the State Minister Gheorghe Pogea.

He showed that the growth rhythm of GDP was below the estimations made by the authorities, of 5,5-5,7 percent, the main cause being the unfavourable weather which prevented the achievement of infrastructure projects.

The National Statistics Institute announced for the first nine months of last year a rhythm of economic growh of 3,6 percent, as compared to 4,9 percent after the first quarter and over eight percent for the January-September period in 2004.

Posted by Iulia Rasoiu : 2/01/2006 10:39:00 am