The European Bank for Reconstruction and Development (EBRD) revised upward its forecast for the countrys economic growth to 1.1% in 2011, from 0.9% previously, the January edition of the report showed. The quarterly growth would reach 2.6% y/y in Q4, the EBRD said. The government and the IMF are however slightly more optimistic and they project a 1.5% GDP advance this year, after the 1.9% decline estimated for 2010. The bank noted the important fiscal consolidation measures, which might improve the growth prospects in the future, but dampen the short-term recovery. Thus, the growth would lag behind the 1.9% expansion, revised from 1.6% previously projected by the bank for the region, including also Bulgaria, Serbia, Montenegro, Macedonia, Albania and BiH. The government has managed to remain on course with the IMF programme by implementing harsh austerity measures that will help to keep the fiscal accounts under control. |
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
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
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