Romania - The BALKAN TIGER!

Did you know that The Romanian (and Bulgarian) stock markets have both tripled over the past two years in anticipation of imminent EU membership?!

And some good analysts insist there is still plenty of money to be made in the 'tiger' economies of the forgotten Balkans.

Romania - Simply Surprising / Romania - The Tiger of the Balkans!

Romania has been granted the "free market economy" Title. And we have a let's say 'guaranteed' EU entry date of January 1, 2007.

Romania's economy grew at 8.3% in 2004. Have you heard figures bigger than 5% in other countries lately?!?!

Some statistics say that in Romania today, 96% of the land is now in private hands under newly issued property deeds. The total private sector accounts for almost 70% of GDP, arguably making the country more "free market" than Britain, where the private sector only accounts for about 60% of GDP.

A new flat tax of 16% is being introduced.

The pro-American Presidency of Traian BASESCU and the government of Calin Popescu Tariceanu , a wealthy entrepreneur, have started privatising the state behemoth left by the Ceausescu regime at breakneck speed.

The country's biggest employer, the state oil company Petrom, was sold to Austrian investors (OMV) last year.

The biggest steel plant, SIDEX Galati, is now in the hands of the Anglo-Indian steel baron Laksi Mittal, after Downing Street intervened directly to help smooth the takeover.

Renault has bought the state Dacia car production plant, now a profitable business.

Last year, the credit rating agency Fitch upgraded Romania to "investment grade", and Standard & Poor's is expected to follow suit this year.

Merrill Lynch warns that Romania needs to tackle its unreformed banking system, still dominated by two dinosaur state banks.

Mr Monovski's (Plamen Monovski, manager of Merrill Lynch's Emerging Europe Fund) best tip: Romanian and Bulgarian farm land.

He said: "There are huge opportunities in agricultural land. This is a very fertile area with a good climate, going cheap."

Some of the bigger problems in Bulgaria and Romania remains the dodgy courts, crooked police, corrupt civil servants, and a crime network with a deep reach into the state apparatus.
Mindful of the warning, Romania has sacked 40 police commissioners, frozen the bank accounts of 42,000 companies, and launched a blizzard of anti-graft inquiries.

The prime minister has sought to soothe sceptical French and German Euro-MPs, saying: "Major changes won't happen overnight, but corruption and the arbitrary will of bureaucrats are no longer the law. The next ten years shall make Romania reborn into a modern European country."

Romania 0 The BALKAN TIGER!

God Bless!

(For this Post I used dates, ideas and infos from a Business Telegraph article.)

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