President Traian Basescu declared today at a government meeting that the central lender's optimism is not justified as long as there will a drop in the country's gross domestic product (GDP) in the second quarter as well, marking Romania's plunge into recession, NewsIn informs.
The executive will then have to assure salaries are paid.
According to Basescu, Romania has all the premises to enter a recession and it is only in the third and fourth quarter that the country could succeed to brake the economy's fall.
The president left the meeting, after warning there will be a negative budget revision in August – September.
Article comments "Basescu: Romania to slide into recession in Q2"
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