Romanian economy 'growing quickly'
The Romanian economy is likely to experience significant growth during 2008, according to a leading economist.
Government officials in Romania predicted that the country's gross domestic product (GDP) would increase by around 6.5% this year, having risen by 6% in 2007.
However, the World Bank has now predicted Romania's economy will grow more rapidly than the government expected, reports Xinhua.
Catalin Pauna, a senior economist for the organisation explained: "Romania is slightly overheating and I think we're going to have more than 7% growth, notably due to the domestic demand, meaning consumption and due to the investments in some sectors, like construction."
The news comes just days after a property fund with extensive investments in Romania predicted that the country's housing market would continue to perform well.
Fabian Capital reported what it described as "impressive results" from its Romanian investments last year and noted that the country has been relatively unaffected by the credit crunch and continues to offer good opportunities.
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