ECONOMY FINANCE&BANKING

Gov’t’s 100-day balance sheet: Romania, 1st place in economic growth in EU

Romania ranks first in the European Union in terms of economic growth, after recording an economic growth of 5.9 percent in the first quarter of the year, the highest in the European Union, and in the second quarter the growth was of 6.1 percent, as gross series, reads a document obtained by AGERPRES.

“Moreover, the IMF revised upwards, from 4.2 percent to 5.5 percent the estimates for the Romanian economy, for this year, and all financial institutions have revised their estimates upwards. We are certainly going to achieve one of the main objectives of our governing programme, that of reaching a GDP growth of 5.2 percent against the one recorded last year. Most likely, we will exceed 6 percent,” the document states.

It also shows that Fitch Ratings has confirmed Romania’s rating with a stable outlook.

At the same time, the text states that the general confidence in the economy has increased: “The confidence index in the Romanian economy, calculated on a sample basis by the European Commission, was in September 2017 at 104.9 points, by 1.6 points over the level recorded in September 2016. Overall, in 2017, the confidence index is around the 105-point mark, the average of the first eight months (105.1) being 1.8 points above the corresponding month in 2016, and at the highest level since 2009 to date.”

The economic growth is also reflected in the Romanians’ earnings.

The document also refers to the private sector, noting that it has created more and more jobs, 129.7 thousand since the beginning of the year.

At the same time, the unemployment rate stood at 4.18 percent at the end of August, by 0.62 percent less than in August 2016 (4.8 percent), ranking Romania 8th in the EU.

As far as economy and trade are concerned, it is mentioned that the procedure of selection of administrators was launched at all companies in the portfolio of the Ministry of Economy.

 

“Our objective in terms of EU funds absorption is 5.2 billion euro”

 

The Government’s objective in attracting EU funds is 5.2 billion euro, a target to be achieved by the end of this year, with 3.3 billion euro to be attracted under the Agricultural Policy and 1.9 billion under the Cohesion Policy, reads the document obtained by Agerpres.

The Executive continued the process of signing the financing agreements, so that it reached up to a total of documents signed worth 5.8 billion euros.

“We have launched new financing lines, both for the public beneficiaries and for the private ones. We have reached up to 19 billion euros the value of the calls launched (68 percent of the earmarking for 2014-2020)”, reads the mentioned document.

With respect to the EU funds attracted in agriculture, 2.5 billion euro were already received by October 1, with the amount to reach 3.2 billion euro by the end of the year.

According to this document, the government plans investments worth more than one billion euro by 2020 in rebuilding the main irrigation infrastructure under the National Irrigations Plan, and also the rebuilding of 86 valid irrigation systems covering a 2-million hectares. The surface contracted for irrigations in July-September 2017 covered 670 thousand hectares (compared with 320 thousand hectares in 2016) and the surface with approved irrigations covered 478 thousand hectares (compared with 180 thousand hectares in 2016). The first stage of the development programme of the national anti-hail and stimulation of precipitations kicked off on April 15, with 34 launching points covering 500,000 hectares.

The government also mentions in this report that the measures already taken in what concerns the waters and forests, among which the development of the integrated computer system related meant or tracking the wooden materials (SUMAR, the Forests Radar etc) in cooperation with the Special Telecommunications Services, abut also others regarding the reconstruction of beaches and the Integrated Control of Pollution with Nitrates, entered the second implementation stage.

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