Romania tipped to see strong growth

Romania's government has confirmed that its economy is likely to see growth of up to 8% this year.

The positive estimate was given by finance minister Varujan Vosganian, who added that officials are already working on revising their GDP projections upwards.

Analysts in the property industry have welcomed the news, with Homes Overseas magazine for example saying this could be good news for those who have invested in Romania.

The publication said: "Strong economic growth could further boost the the country’s property market which has been going from strength to strength in recent years."

Homes Overseas added that house prices in Romania have gone up considerably in the last few years, partly as a result of its accession to the EU back in 2007.

Property investors were recently boosted by the news that Wizz Air is planning to expand in the country before the end of the year.

The low-cost airline confirmed that it would begin operating direct flights from Cluj to Paris Beauvais in December 2008.

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