Romanian President Says Country Is Recovering From Recession

Romanian President Traian Basescu said late Tuesday on national television that the country appears to be recovering from the recession and may see economic growth in the first quarter of 2010.

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"It seems we're recovering from the recession. There's growth of 21.3% in September industrial output compared to August, growth of 13.2% in construction, growth of 2.8% in retail car sales. We also have sectors posting decreases but agricultural in September is 1% higher not compared to August 2009 but to August-September 2008," Basescu said.

The head of state added he believes the country will switch back to economic growth in the first quarter of 2010.

"I think the economic downturn will be of less than minus 8% in the third quarter, which will probably lead to resumed economic growth sometime in the first quarter of 2010. We're leaving the recession behind without having a government," Basescu added.

Also Tuesday, on another TV station, Basescu said Romania is over the peak of the economic crisis and economic growth is expected to be resumed in the second quarter of 2010.

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