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CESifo German institute: Romania's economic growth will slow down

de A.C.
Miercuri, 27 august 2008, 19:31 English | Business

The pace of economic growth in Romania will slow down in the upcoming six months even though current evolutions are satisfactory and inflation will decrease, several economists of the CESifo Institute part of the Munich University declared quoted by Romanian news agency Mediafax. 

Analysts forecast an annual inflation rate of 7% in the last part of the year as compared to 7.2% inflation rate registered in April-June. At Eastern Europe level, the estimated average rate is 6.3% as compared to 5.8% in the previous months.

Romania's National Bank has increased their inflation estimates from 6% to 6.6%. Even though analysts suggest that the economic climate was to get worse, nonetheless, overall, the evaluations regarding the current economic situation of the region would remain favorable.

Next to Romania, experts declared that the same phenomenon would be felt by Estonia, Hungary, Latvia, Lithuania and Poland. At the other side of the spectrum, the Czech Republic and Slovakia enjoy positive evaluations with growth perspectives while Bulgaria's pace of growth is expected to remain constant.

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