Romanian Prime Minister Adrian Nastase has said he expects the economy to grow by 7 percent year-on-year in 2004
Published:
2 August 2004 y., Monday
Romanian Prime Minister Adrian Nastase has said he expects the economy to grow by 7 percent year-on-year in 2004, local media reported Friday.
Nastase said growth would surge due to a bumper harvest. The farm sector is set to post its most successful season in 15 years.
The Romanian economy grew by 4.9 percent year-on-year in 2003 and the government has targeted growth at 5.5 percent year-on-year for 2004. In the first quarter of this year growth was 6.1 percent year-on-year.
Romania hopes to join the European Union in 2007 or 2008 but economic underdevelopment remains a key obstacle.
Strong economic growth is likely this year across the whole eastern European region. The fastest growing economies are in the northern part of the region where Latvia leads the way with 8.8 percent growth.
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