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October 23, 2021

Tanasescu: Romania could remain in recession in Q1 of 2011

Romania’s representative to the IMF, Mihai Tanasescu, stated, on Wednesday, that Romania would most likely remain in recession in the first quarter of 2011, and a change in trend might appear in the second quarter, Realitatea.net informs. He further stated there were no major risks as regards Romanian economy. “In my opinion, internal risks of a slippage were stopped by the legislation approved. Of course, there are potential external risks,” Tanasescu added.Romania’s representative to the IMF also underlined the Romanian economy needed European funds to develop. “I think it is crucial for us to understand that the potential of drawing European funds is Romania’s most important asset at the moment. (…) If we make genuine efforts of drawing European funds, we may expect, in 2012, an economic growth between 4 and 5 per cent,” the IMF representative stressed.

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