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March 31, 2023

BRD: Economic growth won’t surpass 0.9-1.1 pc in 2010

This year Romania’s economy will grow by 0.9-1.1 per cent at most, Florian Libocor, BRD chief economist, stated yesterday, pointing out that in the next two weeks the bank will modify its current prognosis that consists of a GDP growth of 1.5 per cent. ‘The growth of the Romanian GDP won’t surpass 0.9-1.1 per cent in 2010. In the next two weeks we will revise our prognosis downwards from a GDP growth of 1.5 per cent. 2010 will see a fragile and tense recovery. We are entering the economic growth area; we’ve surpassed the crisis threshold that was generating psychological reactions in 2009. We can keep going,’ Lobocor stated, being quoted by Mediafax. The chief economist of BRD continued by pointing out that he lacks arguments that would support the hypothesis of a W-shaped recession that would entail a new period of crisis. ‘Romania has the capacity and potential for growth but fails to put them to good use,’ Libocor said. He added that he expects the inflation rate to drop to 3.8 per cent as pointed out in the bank’s current prognosis.

The BRD analysts estimate an economic growth of 3 per cent and an inflation rate of 3.5 per cent in 2011. In other developments, the BRD shareholders have approved the issuance of dividends worth RON 195 M and the 2010 budget.

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