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EBRD increases growth estimates for Romania to 1.3 percent

The European Bank for Reconstruction and Development (EBRD) on Friday revised upwards the economic growth estimates for 2010 in its field of activity.

In Romania's case the EBRD staked on a 1.3 percent expansion of the GDP this year, when the previous prognoses, which were made public in October 2009, pointed to a 1 percent growth.

According to an EBRD release, the bank also improved its estimates referring to the economic contraction in Romania in 2009 from an 8 percent decrease of the GDP, as estimated in October 2009, to a 7 percent contraction.In 2011 Romania would register a 2.3 percent increase in the GDP, according to the EBRD.

According to Agerpres, the EBRD emphasizes the fact that, in Romania's case, the relaunch may be slowed down by the tightening of fiscal policy. According to the EBRD, the increase in the bad loans and the more cautious loan policies will diminish the wish of the banks to give loans, whereas the recovery of the foreign demand will be counterbalanced by the tightening of the fiscal policy that is necessary in many countries in the region.

Moreover, the EBRD estimated that the unemployment rate would go on increasing in many of the 29 states it operates in. The EBRD is the biggest institutional investor in Romania, with a total of 3.8 billion euros in 249 projects.In cooperation with its numerous partners the bank mobilized more than 7.2 billion euros for projects carried out in Romania.

Top 4 estimates regarding the Romanian economy

BERD improved the provision to increase the GDP of Romania, waiting for an advance of 1.3% this year and modified the estimate regarding the economic drop in 2009, according to a report published Friday. In the previous estimate in October, BERD announced that for Romania there was economic growth of 1% for 2010. As regards the data for 2009, the analysts of the bank anticipated a drop of GDPby 8%, but at present they see a contraction of 7%.

At present, the Romanian authorities and the IMF estimate an economic growth of 1.3% this year, but the representative of Romania to IMF Mihai Tanasescu stated that the growth prognosis of GDP in 2010 could be growing.

Moody's rating agency, the most optimistic institution regarding the economic projections of Romania, improved its estimate connected to the growth of economy this year, at 2.3% against the prognosis of October 2009 of 1.2% expecting a budgetary deficit of 6.3% out of GDP, slightly under the previous estimate of 6.4% of the GDP. Even so, the Moody's analysts expected the Romanian economy to move " slowly for some years" due to a temperate increase in the majority of European economies and the credit had a slow increase.

The World Bank kept its projection regarding the GDP advance of 0.5% in 2010, but they improved the prognosis regarding 2011, when the anticipated an increase of the Romanian economy by 4.2% as compared to 2.5 % previously.

Sursa: http://www.actmedia.eu

Tags: increase regarding estimate according economic estimates growth romania percent berd

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