Romania’s BCR Revises Up 2010 Economic Forecast To Near 2%

Romania’s largest lender Banca Comerciala Romana, or BCR, Tuesday revised upward its forecast on economic growth to 1.9% in 2010 from 0.6% previously, as private investments are seen picking up.

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"Despite high levels of uncertainty, the economy could return to positive territory in 2010, helped by a more than moderate revival of private investment, particularly of foreign direct investments," said Lucian Anghel, chief economist at BCR.

Speaking in a news conference, Anghel said household consumption could see a modest growth as well, mainly due to a good agricultural year and a strong base effect.

"The gross domestic product won't reach the level prior to the recession until at least 2012, and the economic growth will remain below potential over the next few years," Anghel said.

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