Romania 'could return to growth next year'
26 August 2009
Romania's economy could return to growth soon, it has been claimed.
According to the nation's public finances minister, Gheorghe Pogea, this year's contraction in gross domestic product, will be followed by an increase in 2010.
Figures unveiled by Mr Pogea show that GDP is expected to hit 497.3 billion lei (£104 billion) this year but then rebound to 525.1 billion in 2010.
The economy should then expand to 576.7 billion in 2011.
However, other analysts are less certain about Romania's immediate prospects.
According to rating agency Moody's, the country will not return to growth until the middle of 2010.
Kenneth Orchard, an analyst at the firm, said: "Domestic recovery will likely depend on government action over the next one-to-two years and the health of the European banking system."
Moody's is the only major rating agency that sill classes Romania as stable, with Fitch and Standard & Poor's both downgrading the nation to "junk" last year.
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