IMF Ups Forecast On Romania ‘09 GDP, Sees 7.5%-8% Contraction

The new figure is close to the European Commission estimation of an 8% fall of Romania’s gross domestic product in 2009.

Romania’s central bank deputy governor Cristian Popa said Friday Romania’s economy is likely to contract by less than 8% this year, on „several signs of improvement.”

The IMF, which oversees a EUR20 billion loan package to Romania that also includes funds from the EU and other international lenders, has sent a second mission to Romania late October to review the country’s economic performance.