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Romanian economy predicted to grow

Those looking for investment property in Romania may be pleased to know that the World Bank has predicted that the country's gross domestic product (GDP) will grow significantly this year.

Officials from the bank said they anticipated the country's GDP would grow by seven per cent this year, although they warned that its economy may be overheating, Xinhua reports.

Catalin Pauna, senior economist with the World Bank Office in Romania, said: "Romania is slightly overheating and I think we're going to have more than seven per cent growth, notably due to the domestic demand, meaning consumption and due to the investments in some sectors, like construction."

According to the news provider, the country's GDP grew by six per cent in 2007 and it boasted economic growth of 8.2 per cent during the first three months of this year.

In related news, Romanian property fund Fabian Ltd announced earlier this week that during the financial year ending on December 31st 2007, it made four new investments worth 19.8 million euro (£15.69 million).

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