BRD: Romanian Auth Should Ensure Sustainable Econ Growth Beyond ’10

"According to forecasts of several institutions, including the International Monetary Fund and the European Commission, Romania will see a growth in 2010 (…) we should make it so this little plus becomes a sustainable plus, which would translate into an economic growth of 2%-3% that should be kept for several years," said Florian Libocor, chief economist with BRD.

Romanian authorities and the IMF estimated the country's economy will grow by 0.5% in 2010. Central bank's deputy governor Cristian Popa recently forwarded a slightly more optimistic scenario, for a growth of around 1.5% in 2010.

Speaking in a news conference, Libocor said Romania is likely to have overcome the lowest point of the economic downturn, the crisis is not over yet.

"I can't say that the worst is over. You are glad once you've stopped from falling, but it is too early to hope for a rise," Libocor said.

Romanian authorities predicted an economic contraction of 7.7% in 2009, while the IMF estimated the decline might reach between 7.5% and 8%.

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