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IMF forecast for Romania: economic growth expected in Q2 of 2010

de A.C.     HotNews.ro
Joi, 21 mai 2009, 18:03 English | Business

Romania's economic evolution will depend both on internal policies and on the global context. However, economic growth is expected to enter in a positive turn only in the second quarter of 2010, IMF representative Tonny Lybek declared, quoted by Romanian news agency Mediafax.

While some indicators reveal on the short term a depreciation of economic conditions, other indicators point to moderation. According to estimations, Romania's economy will depreciate in 2009 and stagnate in 2010 and growth will be registered in the second quarter of 2010, Lybek declared.

IMF expects a 4.1% decrease of GDP for 2009 but estimates that the economy will recover by 2011 with an estimated growth of 5%. Romania's GDP dropped in the first quarter of this year by 6.4% compared to the similar period, last year and by 2.6% compared to the last months of 2008.

Romania's negative evolution must be understood in the regional context as well, Lybek explained. He declared that the IMF will maintain its forecast for the economic evolution but mentioned that the institution will continue to monitor the indicators to evaluate the need for macro-economic changes.

Lybek said that any change, if necessary, will be thoroughly discussed with the Government in the next official meeting ,scheduled for July - August.
























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