Many Romanians See Country’s Economy In Recession In ’09 – Survey

The survey indicates that although people are fully aware of the economic crisis and its effects, they do not expect the crisis to actually affect them, therefore, they keep their hopes up about the future.

Thus, Romanians expect higher food or utility prices, yet, they are still optimistic about the future.

Respondents seem to be in the dark with respect to a clear strategy under current economic circumstances, as they are rather willing to adjust to whatever the future may bring.

Moreover, 36% of Romanians see the country’s economy in recession this year, 23% think the economic situation will see no changes whatsoever, 30% of respondents think the economy will see a slight increase, while 8% think the country’s economy will flourish.

As regards the effects of the economic crisis, Romanians also think the crisis will seriously affect the real estate sector (77%), the unemployment rate (71%) and the budget deficit (71%). At the same time, 65% of respondents think the crisis will seriously affect the living standard, while 62% see higher food prices.

Romanians are most confident in the IT&C sector and media (61%), tourism (59%) and education (46%) and not so confident in the agriculture sector (31%), advertising (30%) and banks (27%).

Romanians also said the crisis would mainly affect the construction sector (64%), the automotive sector (60%) and banks (58%), followed by agriculture (54%) and insurance (51%).

Respondents also said they fear higher utility prices (71%), the weakening of the leu (69%) or higher food prices (64%) in 2009, while only 34% of them are afraid they might lose their jobs.

Moreover, Romanians see lower spending for all categories of products, from food, utilities and vacation, to household appliances and furniture, which rather shows caution.