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Romanian Econ Growth Seen At 4%- 6% In ‘09 –PM

Romanian economic growth is seen at 4% to 6% in 2009, provided that wages stay at an economically sustainable level, Prime Minister Calin Tariceanu said Monday, pointing to the talks with Government economic analysts on the international financial crisis.
Romanian Econ Growth Seen At 4%- 6% In ‘09 –PM
21 oct. 2008, 10:23, English

"The most optimistic as well as pessimistic conclusions are generally good. Some envisaged a Romanian economic growth of 6%, while the most pessimistic said «we believe it will be 4%». The average growth is of 5%, which in the context of a European and worldwide economic crisis, does not only represent a good but a very good performance," Tariceanu said in a TV show on Antena 3.

Tariceanu added this economic growth depends on not making economically ungrounded wage hikes.

Tariceanu met Monday at the government headquarters with economic analysts to discuss measures to limit the effects of the international financial crisis in Romania.

Early October, he said the current international financial turmoil could bring about lower exports and a slowdown of national and foreign investments in 2009, on the backdrop of a 6% economic growth.

Authorities estimate an economic growth of 9.1% in real terms in 2008 and of around 6% in 2009.

In real terms, Romanian economy grew by 8.8% on the year in the first half of 2008 and  by 9.3% in the second quarter, compared to the same period of 2007, record levels for Romania’s economy, according to the National Statistics Institute.