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The 30 best news in the Romanian Economy

Date: 21/11/2011
  1. In the third quarter of this year the economic growth was of 4.5% over the same period of 2010.
  2. For the first time Romania had the strongest economic recovery in the European Union, of 1.9%.
  3. In the first nine months of this year, the economic growth amounted to 2.6%, being supported mainly by the agriculture which increased by 24%.
  4. The industry grew by 6.8% in nine months of 2011 compared to the first nine months of the last year.
  5. The turnover in industry grew by 17.6% and the new industrial orders grew by 17.2%.
  6. The construction sector resumed its growth after failing sharply over the last years. In the third quarter of 2011, Romania has the 4th highest increase in construction activity in the EU.
  7. Exports are up by 25%.
  8. Romania's economic performance is remarkable, given that three European countries, Cyprus, Netherland, Portugal, registered decreases of DGP, and in four other states, Belgium, Bulgaria, Czech Republic  and Spain, the economy stagnated.
  9. The budget allocations for public investments increased from 35.4 billion in 2011 up to 37.8 billion in the draft budget for the next year.
  10. Romania in positioned on the second place in the EU as regards the total investment share in GDP (23.2%), after the Czech Republic (24.8%), in 2011.
  11. The GDP, calculated at the purchasing power parity, increased from 10.400 euro in 2007 to 11.000 euro in 2010.
  12. We are on track to achieve the deficit target of 4.4% of GDP, 24 billion lei. In the first nine months of 2011, the budget deficit was 13.68 billion lei decreasing by 41.3% compared with the first nine months of 2010.
  13. The budget deficit was 6.9% of GDP in 2010. Countries with higher deficits than Romania: Ireland (31,3%), Greece (10,6%), United Kingdom(10,3%), Portugal (9,8%), Spain (9,3%), Latvia (8,3%), Poland (7,8%), Slovakia (7,7%), France (7,1%), Lithuania (7%).
  14. Romania has the fourth lowest debt in GDP, only 31% of GDP, the European average being of 80.2% of GDP. Countries with higher public debt than Romania: Greece (144,9%), Italy (118,4%), Belgium (96,2%), Ireland (94,9%), Portugal (93,3%), Germany (83,2%), France (82,3%), Hungary (81,3%), United kingdom (79,9%), Austria (71,8%), Malta (69%), Holand (62,9%), Cyprus (61,5%), Spain (61%), Poland (54,9%), Finland (48,3%), Latvia (44,7%), Danemark (43,7%), Slovakia (41%), Sweden (39,7%), Slovenia (38,8%), Lithuania (38%), Czech Republic (37,6%).
  15. The current account deficit is smaller by 11%.
  16. In October, 2011, the annual inflation of 3.6% positions us on the 12th place in the EU-27.
  17. Romania registered in September an unemployment rate of 2.2% below the European average.
  18. Romania is the first country in the EU that has reduced the monetary policy rate to 6% from 6.25%.
  19. Speaking about large investment projects, there are 25 projects of 1.25 billion euro, creating 1708 new jobs.
  20. State aids for investments of over 100 million euro and employing over 500 persons. Example: Turceni energy efficiency project (investment of 296.5 million euro, of which 36 million state aid), Pirelli Tyres Romania factory in Slatina (investment of 159 million, of which 28.1 million euro, State aid).
  21. Large investment projects of at least 5 million euro, employing at least 50 employees, are supported through state aids. Examples: Renault Techonolgie, Aaylex Prod, Delphi Diesel Systems, Automobile Dacia Pitesti, Premium AEROTEC, Lufkin Industries, REMAR, International Automotive Components, Toro Manufacturing Sales, Palace Sinaia, Diamonds Bistrita, Styria Springs, Gral Medical, Honeywell, International Metals, Altius International Cord Romania, IPORO, ContiTech.
  22. The Romanian "leu" is the most stable of all currencies in the region.
  23. We have 334.4 km of highways and 433.35 km running. Projects for about 100 km will be auctioned and signed in the near future. In 2013 we will have 800 km of highway in operation.
  24. Due to the new Labor Code, the proceeds from social security contributions, increased by 8.7% in the first nine months of this year compared to the same period, last year.
  25. Since the entry into force of the new Labor Code, on May 1st 2011 until 6 November 2011, the number of registered employment contracts increased by 1,192,493 (66.04% for indefinite period). Of these, 773,896 are active contracts.
  26. We have had a record budget revenue in 2010, 33% of GDP. This year, the budget revenues are estimated to increase to 33.4% of GDP.
  27. ANAF has made budgetary revenues in the first nine months of 2011, with 11.27% higher than same period last year and with 5% higher than in 2008.
  28. Fitch raised the qualification of the country for Romania to the class recommended for investments.
  29. We have a fiscal risk twice lower than Greece, according to the report of the European Commission. Romania's fiscal risk (0.54 points) is close to EU average (0.51 points). The greatest risk is of Greece (1.02 points), followed by Italy (0.88 points).
  30. Romania stays attractive for relocation services in 2011, being ranked 25 out of 50 countries analyzed by the consulting company AT Kearney. Among the countries in the region, Romania is positioned better than Hungary (No. 31), Czech Republic (35th), Slovakia (40th place).
  31. According to Ernst & Young, for the third consecutive year, Romania is on the 21st place among the most attractive 35 countries, for the investors in renewable energy.
  32. According to the fourth edition of the "SEE TOP 100", Romanian companies dominate the annual ranking of the largest business in Southeast Europe regarding the total revenues. Romanian companies contribute to almost half (40 billion) to the total revenues of the best 100 companies (87.4 billion).





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