IMF revises Romania's economy growth forecast below 1%
The International Monetary Fund (IMF) significantly revised the economic growth forecast for Romania, to 0.9 percent for this year, from a previous estimate of 1.5 percent. The IMF however expects higher growth in 2013, of 3 percent, according to Erik der Vrijer (in picture, middle), the chief of the IMF mission currently reviewing the loan agreement with Romania.
“We revised the prognosis down, but the inflation was also higher than expected,” said der Vrijer.
The Romanian Government's prognosis is a bit more optimistic, currently at 1.2 percent, according to the recent budget revision.
The IMF's inflation target for this year for Romania is 3.5 percent, higher than 3.2 percent forecast by the country's Central Bank.
editor@romania-insider.com
(photo source: presidency.ro)
