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Oxford Economics revises previous estimates and forecasts that Romania’s economy will grow this year 

de A.C.
Miercuri, 16 februarie 2011, 20:05 English | Business

Romania’s economy will marginally grow this year by 0.1% Oxford Economics estimates read, quoted by Romanian news agency Mediafax, revising thus previous estimates which saw a 1% contraction. The institution reveals however that the main economic growth factor, exports, is in the same time vulnerability if EU demand decreases.  

The analysis reveals that the euro zone economy has a two speed dynamics in this period with solid performances in solid states and marginal states which continue to confront with a weak economic activity and high unemployment rates. However, Germany and France, the biggest euro zone economies stalled their growth in the last two quarters of last year. 

Oxford Economics notes that even though Romania’s economic growth will be low this year, fiscal consolidation has a vital important to ensure a durable economic recovery. Therefore, the institution anticipates a 0.1% economic growth this year. The government and the IMF estimate a real GDP growth of 1.5%.

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