Fitch said the country’s Gross Domestic Product was likely to grow by 4% in 2011.
The agency’s forecasts for 2009 is slightly more optimistic than Prognosis Commission’s view, who sees a 7.7% economic contraction this year, and also than IMF’s who expects Romania’s economy to contract 8-8.5%.
Last year, Romania’s GDP was +7.1%. The report also indicates that the country’s budget gap will hover near 7% of GDP this year, according to the local calculation standards, versus 4.9% of GDP last year.
For 2010, Fitch expects Romania’s budget gap to be around 4.5% of GDP.
Romanian authorities, IMF and European Commission agreed on a deficit of 7.3% of GDP and 5.9% of GDP for next year.
Fitch Ratings projects Romania’s general government debt at 30.1% of GDP this year, at a wide margin from 21.5% last year. For 2010, the agency expects 34.2% government debt.
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