Romania posts 2 percent economic growth in 2011 says PM

Newsroom 04/01/2012 | 17:23

Romania’s GDP grew by almost 2 percent in 2011 and the budget deficit was below the target of 4.4 percent, Prime Minister Emil Boc said on Wednesday. He added that one of the government’s main objectives this year will be to attract about EUR 7 billion worth of European funds which will mean a 20 percent absorption rate.

Other targets mentioned by the PM at the beginning of Wednesday’s government meeting were to continue the tax reform, the restructuring of state companies and the health system, to enforce the law education, the Labour Code and Law of social dialogue and to continue the fight against tax evasion especially with regard to excise duties.

Romanian authorities and the IMF have maintained the economic growth forecast of 1.5 percent for this year, but have significantly reduced the estimate for next year, to about 2 percent.