13 Noiembrie 2009
World Bank sees Romanias economic growth at 2%
World Bank expects Romania’s potential economic growth rate to stand near 2% over the next two years, from previous forecasts of 4%.
“Romania’s potential economic growth suffered a severe decline in the last period, from our previous forecasts of 4% to roughly 2%. This is the rate we predict for the following years for the optimum GDP growth rate”, said Kaspar Richter, senior economist of World Bank for Europe and Central Asia.
On the other hand, he said the optimum growth rate can climb back up as soon as investments in Romania and productivity pick up.
Kaspar Richter added there are different estimates for this indicator.
For 2009, IMF predicts an economic contraction of 7.5% - 8%.
In 2010, Romanian economy will remain below its potential, at a very modest rate of 0.5%.
In previous years, Romania’s economy recorded hefty consumption-driven growth rates, above its potential.
In 2008, GDP growth stood at 7.1% as NBR predicted 5-6% potential growth.
On the other hand, he said the optimum growth rate can climb back up as soon as investments in Romania and productivity pick up.
Kaspar Richter added there are different estimates for this indicator.
For 2009, IMF predicts an economic contraction of 7.5% - 8%.
In 2010, Romanian economy will remain below its potential, at a very modest rate of 0.5%.
In previous years, Romania’s economy recorded hefty consumption-driven growth rates, above its potential.
In 2008, GDP growth stood at 7.1% as NBR predicted 5-6% potential growth.