Romania records strong economic growth
Romania's economy recovered from a stuttering 2005 to record strong growth last year, new figures show.
The Romanian government expected strong figures of 7.7% economic growth last year, and the National Institute of Statistics has confirmed the predictions have been met.
After a difficult year in 2005, when flooding affected agricultural output, the data suggests the Romanian economy is back on track to capitalise on its accession to the European Union.
Record growth of 8.4% in 2004 decelerated to 4.4% in 2005, but was back up to 8.3% in the third quarter of last year.
As well as higher wages leading to higher spending, the economic growth was supplemented by a 75% increase in foreign direct investment in 2006, compared to 2005.
For 2007, the Romanian government is planning to increase spending, with a budget deficit target of 2.8% of gross domestic product, and the central bank last month dropped interest rates on the back of slowing inflation.
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