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Romania’s Future Govt Not Seen Limiting Expenses – Ctrl Bk Governor

The National Bank of Romania, or BNR, estimates that the country's future government will have problems limiting public spending, while excess of demand will continue especially in terms of people's incomes, central bank governor Mugur Isarescu said Monday.
Romania’s Future Govt Not Seen Limiting Expenses - Ctrl Bk Governor
03 nov. 2008, 15:53, English

BNR revised down its economic growth forecast for 2009, from the previously estimated 5.5-6%, the central bank’s governor said.

Last week, central bank deputy governor Cristian Popa said the central bank sees an economic growth of 4.6% in 2009.

For 2008, the central bank forecasted an economic growth of 8-9%.

The National Prognosis Commission has revised down its 2009 economic growth forecast to 6% from the previous 6.5%, anticipating a slowdown in all sectors of activity, with a sharper fall in constructions.