PwC Sees Romanian GDP Growing 1.6% In 2011

Romanian economy is likely to grow 1.6% in 2011, ending a two-year recession period, but the country’s annual inflation is seen easing only to 5.4% next year, above the central bank’s upper band target of 4%, a PricewaterhouseCoopers (PwC) survey showed Wednesday.

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In its latest global growth forecast, PwC noted that developing economies continue to power the growth of the global economy, while most developed economies are struggling in the face of high unemployment and weak consumer demand.

Worldwide, PwC estimates an economic growth of 3.5% in 2010 and of 3.1% a year later.

Romanian authorities forecast the economy will contract by around 2% in 2010, from a decline of 7.1% in the previous year. For 2011, the gross domestic product is expected to grow by 1.5%.

The PwC survey provides estimates for more than 40 economies which together account for 90% of global GDP.

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