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IMF May Update Romania’s GDP Forecast, On Slightly Weaker Data

The International Monetary Fund might slightly update its forecast on Romania’s economic growth, on recent weaker than expected data, an IMF official said Tuesday.
IMF May Update Romania’s GDP Forecast, On Slightly Weaker Data
30 mart. 2010, 15:09, English

Currently, the IMF sees Romania’s economic growth at 1.3% in 2010.

The IMF reevaluates its predictions each quarter, said Jeffrey Franks, head of the IMF’s mission to Romania.

„For now, I don’t see any reasons for significant adjustments [of the forecast],” Franks told a news conference in Bucharest. He added, however, that the latest statistical data are slightly weaker than expected.

Franks accompanied the IMF’s Managing Director, Dominique Strauss-Kahn, in a one-day visit to Bucharest.

Last year, Romania and the IMF agreed on a EUR13 billion stand-by arrangement, part of a larger financial aid that includes funds from the EU and other international lenders.

An IMF mission is expected in Bucharest by the end of April to assess Romania’s compliance with the agreement terms.