Romanian Export-Oriented Industries Poised To Grow Further In 2011 - Survey

"The retail sector, along consumer goods, services and construction had a significant impact on the economic decline and is unlikely they will have a major contribution to economic recovery next year," said Codrut Pascu, managing partner at Roland Berger Strategy Consultants.

He said the economic growth in 2011 depends on several factors, such as the ability to withstand possible "turbulences" and to seize upcoming opportunities.

"Positive factors include growing (economic) confidence, higher productivity (…) and the evolution of the large companies," Pascu added.

On the downside, the uncertainty of the government's measures, including fiscal policies, the deterioration of consumer confidence and the failure to reorganize the public sector are elements that could affect economic revival in 2011.

Roland Berger estimates Romania's gross domestic product will grow by 0% to 2% in 2011.

On the medium term, the consultancy firm forecasts an economic growth of 3% to 4% per year by 2020, when the country's GDP per capita is estimated at 50% of EU's average level recorded in 2009.

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