Romanian foreign investment up 25%

Foreign investment in Romania soared by almost a quarter during 2008, new statistics have shown.

Data published by the Romania Central Bank show direct foreign investment (FDI) rocketed from 7.25 billion euros (£6.44 billion) in 2007 to more than nine billion euros (£8 billion) last year - an increase of almost 25 per cent.

According to one expert, the figures demonstrate the healthy condition of the country's economy and could spur a new generation of foreign property buyers to consider Romania.

James Gonzalez, market analyst at Obelisk Investment Property, said: "Romania's FDI inflows for 2008 are impressive, and the more or less constant stream of new investment shows that this partner is likely to continue during 2009 in spite of the global economic slowdown."

The International Monetary Fund predicts the Romanian economy will expand by 4.8 per cent during 2009.

The foreign currency exchange rate for Romania is £1.00 to 4.8142 new lei.

axiafx.com