Gov't to earmark 6.4pc of GDP for investmentPublish date: 20-05-2010
The Romanian Government will earmark 6.4 percent of the country's Gross Domestic Product (GDP) for investment, state secretary with the Ministry of Economy Maria Parcalabescu said.
'The Romanian Government will allocate 6.4 percent of the GDP for investment, which is the largest GDP share allocated in the past 15 years. Earmarking the money for investment will have a multiplying effect and will generate economic recovery,' she said.
Parcalabescu also said that specialist estimates indicate that Romania will close 2010 on an economic growth of 0.5-0.8 percent, and the growth will continue into 2011 and 2012.
'All current estimates show that Romania will close 2010 on an economic growth of 0.5-0.8 percent, which will mean Romania will get out of the crisis. We surely need two quarters of growth to say that we are out of the crisis. Likewise, all premises indicate that Romania will reach a 3.5-percent economic growth in late 2011 and a 4-percent annual growth rate starting in 2012,' she added.
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