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Economist Intelligence Unit estimates 2.6% economic growth for Romania in 2009

de Radu Rizea
Joi, 27 noiembrie 2008, 18:24 English | Business

There can be no discussion about recession in Romania at this point, a 2.6% economic growth can be expected in 2009, despite the negative evolution of the Eastern Europe economies, said Joan Howie, an analyst with the Economist Intelligence Unit (EIU), in an interview for NewsIn. EIU also estimates a 3.9% economic growth in 2010 in Romania.

The EIU predictions for the entire East-European zone decreased from a 4% economic growth to 2.6%. The figures suggested for Romania are far below the 8% growth first estimated for this year.

Even though recession may be about of  the question, the state must adopt stricter rules, in order to avoid a hard landing of the economy. The EIU expert says that the Romanian Central Bank (BNR) had an excellent attitude throughout the past years, but it still needs governmental support through fiscal policies. A thing that was missed lately, the analyst underlines.

In Howie's view, the way the future government will apply a strict income and fiscal policy will be the main instrument to regain the trust of the financial markets and to avoid a crisis.

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