Economic growth will slow down to 3.9% next year, Massourakis said. For 2008, Alpha Bank sees Romania’s economic growth at 8.5%.
After slowing down to a 3.9% growth pace in 2009, the advance estimated for gross domestic product in 2010 is 4.7%, said Massourakis, at EU-COFILE seminar that took place in Sinaia.
Meanwhile, the advance of lending will temper down, from a real growth rate of 52% last year, to 20% this year and to 15% next year, following an uptrend in 2010, up to a 21% pace.
Senior economist of Alpha Bank said that in the midst of global financial crisis, a positive aspect is the shrinking of current account deficit of Romania, which can contribute to a “stabilization of economy”.
According to Massourakis, Romania’s fiscal deficit “will be around 3%of GDP this year” and mentioned that foreign analysts were reticent to the initial approval of 50% pay rise in education system, in the context of deep external unbalances and considering that developed economies are heading towards recession.
Translated by Camelia Oancea
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