Romanias GDP up by 2% in 2012 central bank official.

By bne IntelliNews October 12, 2011
The country's GDP will increase by 2% in 2012, accelerating from 1.5% y/y in 2011, driven by a combination of external and domestic demand, Lucian Croitoru, advisor to the central bank governor, stated in an interview for Ziarul Financiar daily. The growth in the coming year however depends critically on the foreign investments and the [medium term] potential growth is around 3-4% per year, he added. Regarding next year, Croitoru expects the contribution of external demand to GDP growth to moderate. Domestic demand, stimulated by investments, will offset the gain of traction from the external sector. Another threat posed by the external sector is the rising cost of public borrowing prompted by the sovereign debt crisis in Europe, which Croitoru expects to push up the price of the country's CDS and shorten the term of financing available to the country.
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