Loading ...The Romanian gross domestic product (GDP) will grow more than 7 percent in 2008, with the Romanian economy being slightly overheated, the Bucharest-based World Bank officials said on Wednesday.
'Romania is slightly overheating and I think we're going to have more than 7 percent growth, notably due to the domestic demand, meaning consumption and due to the investments in some sectors, like construction', senior economist with the Romanian-based World Bank Office, Catalin Pauna told Rompres.
Romania posted record economic growth in the first quarter-year, at 8.2 percent. Such growth exceeded the economic analysts' expectations and the estimations made by Economy and Finances Minister Varujan Vosganian. According to him, this year's forecast economic growth put at 6.5 percent might be revised upwards by about one percentage point provided a favourable farming year is maintained and also taking into account the advance recorded in the first quarter.
The Romanian economy expanded by 6 percent last year.
Pauna unveiled on Wednesday the most recent regular economic report on the EU 10 (Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia), which examines the economic developments of these states in 2007 and launches predictions for 2008.
With respect to Romania, the World Bank officials say the economy might slow down its growth pace after mid-year compared to Q1, particularly amid calmed positive evolution of the exports and a possible slowdown in the construction sector.
The authors of the report say the main risk facing the region's economies is the inflation, which has risen significantly amid constant increase in the prices for foodstuffs and energy on a global level.
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