EBRD improves projections for Romanias 2011 GDP growth to 1.9%.

By bne IntelliNews July 25, 2011
The EBRD improved marginally its projection for Romanias GDP growth to 1.9% in 2011 in the July edition of its Regional Economic Prospects, compared to 1.8% in the May forecast. An economic growth of 3.8% in expected in 2012 with the forecast remaining unchanged from the previous report. The inflation rate is expected to surge to 6.7% in 2011 from 6.1% in 2010. The fiscal balance is seen at a deficit of 4.4% of GDP in 2011 after 6.5% in 2010. The current account surplus is expected to expand to 5% of GDP in 2011 from 4.2% in 2010. A positive trend is seen in net FDI, which are to climb to 2.9 % of GDP in 2011 from 2% in 2010. The austere fiscal policies conducted by the government help reduce the risks on the fiscal side, but delay the recovery of domestic demand, the report said. As a result, Romanias GDP growth would be this year the weakest in the region covered by EBRD, except for Croatia. The governments forecast, drafted under the stand-by agreement in cooperation with the IMF, includes an even more moderate projection of an 1.5% growth this year.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania to spend EUR 37mn in 2013 to close down loss-making coal mines.

Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more

Romanias Hidroelectrica sells nearly 0.3TWh of electricity on free market.

Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more

Romania to start privatisation of cargo railway company on April 6-8.

The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    6 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    6 days ago
  3. Russia’s war economy boosted by rising oil prices
    8 days ago
  4. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  5. Russia’s $13.4bn current account surplus in March second highest since 2007
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    24 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss