Romania posted the highest economic growth among the EU-22 countries, with an increase of 1.8 percent in the third quarter of 2011, according to an economic analysis conducted by Andreea Paul Vass (in picture), the Romanian Prime Minister’s state adviser, quoted by Agerpres.

“The economic sectors that contributed to this success are agriculture with spectacular growth of over 22 percent in the third quarter of 2011, followed by construction – up 7 percent and industry – up 6 percent,” said Andreea Paul Vass.  “Compared to the same quarter in 2010, the economic growth of 4.4 percent reported in the third quarter, placed Romania in the 5th spot, being surpassed only by Estonia, Lithuania, Latvia and Sweden,” she added.

The Romanian Prime Minister Emil Boc recently said that Romania posted an economic growth of nearly 2 percent in 2011, above the official target of 1.5 percent, and the country also managed to reach its budget deficit target of 4.4 percent last year.

Romania’s general consolidated budget had a deficit of EUR 3.8 billion (RON 16.3 billion) in the first 11 months of 2011. The country’s deficit increased to 3 percent of the GDP at the end of November, from 2.4 percent of GDP posted at the end of October, according to the Romanian Ministry of Finance.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Gov.ro)