Romania's economy to grow by up to 2.7 per cent next year, president says

2011-11-07 10:40:59

President Traian Basescu said yesterday evening (Thurs) that Romania's 2012 Budget will be built on a deficit of 1.9 percent, whereas the growth of the gross domestic product (GDP) should vary between 1.7 and 2.7 percent.

Basescu said, quoted by Agerpres, that only estimates could be made: "The growth estimate reads between 1.7 and 2.7 percent. Such are the times now that nobody can predict accurate figures."

"The growth estimate for 2011 is also set at a prudent level, which in no way will be lower than 1.5 percent."

He commented on the 2012 Budget by saying: "The budget will be built on a 1.9-percent deficit, with a margin of error that will reflect the developments elsewhere in Europe, which could bring the deficit up to 2.5 percent GDP in cash terms."

Romanian authorities have not yet adopted the state budget for 2012, pending international estimates of economic growth.


Romanian Times