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September 29, 2022

EIU: Romanian economy down 1.2 pc this year

The Romanian economy will suffer a 1.2 pc contraction this year, but will return on the increase in 2011, according to a forecast made by the Economist Intelligence Unit (EIU), quoted by HotNews. Resistance to spending cuts might thus generate some political instability. In July, EIU predicted for Romania an economic contraction by 0.6 pc this year and a Gross Domestic Product (GDP) increase by 0.8 pc in 2011. For the Balkan region, which includes Bulgaria, Croatia, Romania and Serbia, the EIU anticipates an economic decline of 0.2 pc in 2010, followed by a 3.1 recovery in 2011. The economy of Central and Eastern Europe – a region that includes the Czech Republic, Hungary, Poland, Slovakia and Slovenia – will pick up by 1.6 pc this year, after a 2.4 pc decline in 2009. For the next year, EIU expects an economic increase of 3 pc. According to EIU estimates, global economy will grow by 4.4 pc in 2010 and 3.6 pc in 2011.

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