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EBRD Revises Up Romania GDP Growth Forecast At 1% In ‘10

The European Bank for Reconstruction and Development Thursday revised up its forecast on Romania’s economic growth next year to 1%, from a 0.4% advance previously estimated.
EBRD Revises Up Romania GDP Growth Forecast At 1% In ‘10
15 oct. 2009, 14:38, English

Romania’s gross domestic product is expected to contract by 8% in 2009, compared with the 4% GDP fall predicted earlier. The GDP is projected to decrease by 6.3% on the year in the fourth quarter, EBRD said in a statement.

„The economies of central and eastern Europe are expected to contract by an average of 6.3% in 2009 following steep output declines in the first half of the year,” the statement noted.

It said recession may be bottoming out in many of the countries in the region, but that any upturn in 2010 will be „fragile and patchy.”

However, EBRD sees the Central and Eastern Europe economies averaging a 2.5% growth in 2010.