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Romania MOF Upgrades GDP Estimate, Sees Contraction Of 7%-7.5% In ‘09

Romanian Finance Ministry revised upward its forecast for economic growth in 2009 and it now expects the gross domestic product to shrink by 7%-7.5%, from a decline of 8% initially estimated, a ministry official said Thursday.
Romania MOF Upgrades GDP Estimate, Sees Contraction Of 7%-7.5% In ‘09
19 nov. 2009, 12:32, English

„Though the contraction was initially seen at 8%, in light of the latest data we expect the GDP decline to be between 7% and 7.5%,” said Gratiela Iordache, state secretary at the ministry.

The International Monetary Fund recently upgraded its estimation on Romania’s economic growth, saying it expects the economy to decline by 7.5%-8% in 2009, from a previous contraction predicted at up to 8.5%.

Romania’s Prognosis Commission estimated the economy would shrink by 7.7% in 2009.