Economy grows in Romania

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ECONOMY GROWS IN ROMANIA

Thursday, 13 Mar 2008

Officials in Romania have revealed that the country's economy continued to grow during 2007.

The National Statistics Institute stated that during the first year of its EU membership, Romania experienced economic growth of six per cent, reports BalkanInsight.com.

This increase in gross domestic product was largely attributed to the expansion of its construction industry.

Figures showed that the money generated by this sector went up by 33 per cent, possibly because growing tourism has resulted in the need for new properties to be created across the country.

In addition, the holiday industry itself was also found to be contributing more to the economy, with revenues increasing by ten per cent.

This comes after Ziarul Financiar cited government figures showing that Romania attracted 7.7 million visitors last year.

According to the data, this is 27 per cent higher than the amount recorded 12 months earlier.

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