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Bogdan Tudorache
Romania offers positive prospects for growth, following a stronger-than-expected hike in GDP, helped by a bumper crop in agriculture last year. Meanwhile, the Eurozone accelerated in the fourth quarter of 2013, its GDP advancing 0.3 per cent from the previous quarter, while the EU's economy rose by 0.4 per cent. In turn, Romania's growth reached 1.7 per cent in Q4 compared to the previous quarter, while against the fourth quarter of 2012 the country's economy gained an impressive 5.2 per cent. On this note, Greg Konieczny, executive vice president of Templeton Emerging Markets Group and Fund Manager at Fondul Proprietatea, said: "Romania's economy had a great year in 2013, exceeding all expectations."
Local statistics are evermore optimistic: Romania's GDP grew by 3.5 per cent last year, according to preliminary estimates by the National Statistics Board (INS ), significantly higher than the previous estimates by the authorities (2.8 per cent) and analysts, and following a 5.2 per cent increase in the last quarter compared to the same year-before period. Thus, Romania recorded the strongest growth in Europe, both in the fourth quarter and for the entire year 2013, according to Eurostat.
Looking at the trends in the domestic capital market, Greg Konieczny, executive vice president of Templeton Emerging Markets Group and Fund Manager at Fondul Proprietatea, said: “The capital market experienced probably its best year in the past five years, with initial public offerings (IPOs) that achieved record levels and strong growth of stock prices in general. We expect this trend to continue in 2014 and we are optimistic about accelerating growth.”
The Eurozone’s economy gained just 0.1 per cent in the third quarter, after 18 months of recession. In turn, the EU’s GDP advanced by 0.3 per cent in July - September compared to the previous quarter. Year-on-year, the Eurozone’s GDP rose 0.5 per cent in last three months of 2013, while the overall EU economy gained one per cent over the same period.

To read the full version, see the print edition of Business Arena.

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