Romania expects record wheat harvest

11/06/2014

Romania expects to yield 8.3 million tonnes of wheat this year. Also in business news: Albania is expecting 3.5 million tourists this summer.
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The harvest is expected to solidify Romania's position as the fifth-largest wheat producer in the EU. [AFP]

Farmers in Romania expect to harvest about 8.3 million tonnes of wheat this year, which will be the highest production in the country in the past 27 years. A report by local grain trade leader Toepfer said the output will consolidate Romania's position as the EU's fifth biggest wheat producer.

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Economist Gikas Hardouvelis has assumed the post of Greece's new finance minister. A professor and advisor to the previous government, he replaced Yannis Stournaras in a government reshuffle. Analysts expect him to continue the policy of fiscal austerity, but also to push for growth by cutting taxes.

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The construction of Istanbul's third airport is under way. The $30 billion project's first phase is expected to be complete in October 2017. By 2018, the facility should become fully operational and be able to handle 150 million passengers.

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Montenegro and Bosnia and Herzegovina (BiH) can increase their economic co-operation, Montenegro's Prime Minister Milo Djukanovic said after meeting with Vjekoslav Bevanda, president of BiH's Council of Ministers. Djukanovic said there are opportunities in infrastructure, particularly projects related to the Adriatic-Ionian motorway.

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Cyprus will return to the international financial market at the end of the month, 18 months earlier than originally planned, Finance Minister Haris Georgiades said. He added that the government plans to issue bonds worth 500 million euros, with a possible maturity in five years.

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Romania and Bulgaria are the only "new" EU member states with significant growth in foreign direct investment in 2013, according to the Vienna-based Institution of International Economic Studies. In Romania, this growth was about 27.4 percent, with investment reaching 2.7 billion euros, while in Bulgaria foreign investment increased by 2.1 percent to 1.09 billion euros.

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Albania will welcome about 3.5 million local and foreign tourists this summer, officials have estimated. Most are expected to take their holidays in the country between July 1st and August 15th, with the destinations of choice being Durres, Vlore, Himare, Sarande and Kavaje.

(Various sources -- 03/06/14-11/06/14)

This content was commissioned for SETimes.com.
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