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Romania GDP Poised To Grow 0.2% In Worse Case Scenario

A very sluggish global recovery could put pressure on Romania’s economic growth in 2010, slowing it down to 0.2% from 1.3% envisaged in the basic scenario, according to the government’s draft convergence program for 2009-2012.
Romania GDP Poised To Grow 0.2% In Worse Case Scenario
05 mart. 2010, 20:46, English

„If a swifter recovery does not materialize, we must prepare for a more conservatory development of the public finance sector. The risk scenario involves a pessimistic evolution compared with the basic scenario and it considers a decline of approximately one percentage point from the projected horizon,” the document, obtained by MEDIAFAX Friday, said.

For 2011, the authorities forecast an economic growth of 2.4%, while the worse case scenario considers only a 1.4% increase.

Romania’s economy declined 7.1% in 2009, after a 7.1% growth the year before.

The country’s convergence program is subject to annual revisions and will be sent to the European Union pending government approval.