EIB: Romanian Budget Affected By Crisis’ Final Stage

Speaking in a news conference in Bucharest, EIB vice-president Mathias Kollatz-Ahnen said the crisis is not over yet and that its fourth and last phase has a significant impact on the public budget.

He said Romanian economy is likely to post a meager revival in 2010, but which is accompanied by great difficulties in the public budget sector.

It is vital that Romania successfully implements its projects regarding EU structural funds, Kollatz-Ahnen said.

Moreover, the eastern European country will not be able to sustain the economic growth in the absence of large investments, the EIB official added.

The Romanian authorities forecast an economic growth of 1.3% in 2010, after a sharp contraction of 7.1% a year earlier.