Asked about a possible recession in Romania, the Minister of Finance replied: “For the moment, this is not the only variant, but it is in our attention”.

“I think it’s possible to run an economic growth within the -1-1.5% range, although there are countries in the region with -3% or -4%”, said Pogea.

The talks with IMF and EC experts on the loan will continue until they reach a consensus, the minister added.

The talks between IMF delegation and Bucharest authorities are due to continue on Wednesday, following to hammer out the final points of possible IMF program for Romania, “part of a multilateral funding package”, that would involve the contribution of EU and World Bank.

The budget plan for 2009 takes into account on a 2.5% economic growth, however IMF says it is more likely to see a recession.

IMF said in a press release remitted in early February that Romanian economy could sink this years seeing a mild recovery toward the end of 2009, early 2010.