Romania May Wait Beyond Q1 To Emerge From Recession

„Certain activities have improved, including the industry and exports, but the first signs don’t point to an economic growth in the first quarter,” CNP president Ion Ghizdeanu told MEDIAFAX.

„We have to wait for the latest data,” he added.

Romania’s economy declined 7.1% in 2009, after a robust growth of 7.1% a year earlier.

The International Monetary Fund, which lent Romania EUR13 billion last year to cushion the effects of recession, forecasts a modest growth of 1.3% in 2010.

Jeffrey Franks, head of the IMF mission to Romania, said Tuesday the forecast could be downgraded slightly, because the latest economic data were below expectation.