Ctrl Bk Head Sees Romania’s Econ Growth At 3%-6% In ‘09

“An efficient cure depends on an accurate diagnosis,” Isarescu said.

The governor said that 2008 is for Romania the tenth consecutive year of economic growth and the launch of premature anti-crisis programs could have severe consequences.

“(…) The decision of the next government and our decision requires a lot of professionalism,” Isarescu said.

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The Government recently approved a fiscal support package, which requires EUR10 billion funds in the next four years.

Economic analysts predicted that Romania’s economic growth would slow down significantly next year, on the backdrop of the international financial turmoil. From more than 8% in 2008, the analysts see a GDP growth below 4% in 2009.

A poll made by Mediafax among 11 Romanian and foreign analysts showed that the economy will grow by 8.2% on average in 2008 and will fall to 3.4% in 2009. In the last quarter of 2008, the gross domestic product will grow by 6%, according to analysts.

Moody’s analyst Kenneth Orchard even predicted a moderate recession in Romania.

Romania’s Prognosis Commission forecasts a gross domestic product growth of 9.1% for this year and 6% for 2009.

In the first six months of the year, the economy grew by 8.8% in real terms, boosted by a 9.3% growth in the second quarter of the year.