Three years of growth

Romania registered 5% of GDP economic growth in 2002, exceeding the 4.5% target, National Bank of Romania (NBR) Governor Mugur Isarescu on Wednesday stated. He says this performance came with a current account deficit drop below 4% of GDP, as well as with a $2bn increase in the foreign currency reserve. Romania’s exports reached $13.8bn last year, up nearly 22% since 2001. Mugur Isarescu says exports will continue to fuel economic growth in 2003, but investments and consumption will join them. However, he added, consumption needs careful monitoring in order to avoid an inflation increase. ZF