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Sep 1, 2008, 15:21 GMT

Romanian economy grew at record 9-per-cent pace

Bucharest - Romania's economic growth accelerated to 9.3 per cent in the second quarter as foreign investment rose by nearly one- third, the government said Monday. Year-on-year growth in gross domestic product (GDP) was the highest in 18 years. The April-to-June figure compared with an annual rate of 8.2 per cent in the first quarter of 2008. Foreign investment increased by 30 per cent in the second quarter, with an increasing share flowing into construction, the National Statistics Institute said in a statement. Romania has the European Union's second-highest growth rate this year behind Slovakia. Economists expect a slowdown for the second half of 2008.

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