He added that, after the presentation of the report on inflation, which would be subject to debate at National Bank of Romania in the benchmark rate-setting session scheduled for February, BNR would come forward with new details on economic growth projections for 2009.

BNR’s vicegovernor mentioned that the central bank had expected a weakening of consumption, given the one-digit salary growth and softened lending regulations, NewsIn informs.

“We expect a shrinkage of consumption, considering no further two-digit salary growth and slowdown of lending”, Popa added.

Compared to other Member States, including those who are not in the euro area, Romania is well positioned in terms of economic growth, considering that predictions for some of these countries indicate a devastating recession, said BNR representative.

The recent projections suggest an aggravation of estimates on this year’s evolution of Romanian economic climate. However, most of the analysts say Romania will still have an economic growth in 2009, even if it will be lower than in 2008. Nevertheless, pessimistic projections signal a decline of Romania’s gross domestic product this year.