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Dragulin (BNR): Economic growth prospects remain low

Romania's economic growth prospects remain low, Ion Dragulin, Head of the National Bank of Romania's (BNR) Financial Stability Directorate told a seminar on economic perspectives on Wednesday. 'The International Monetary Fund (IMF) provided these figures and to oppose them to the Romanian ones is not important. The re-launching process will be a slow one,' said Dragulin.

According to him the main element having determined the economic corrections was the current account.'The current account is to be mainly blamed for the corrections to follow. These took place mostly in the private sector. The effect of the adjustments is still present and in 2010 it will have adjustment repercussions,' pointed out Dragulin.

According to recent estimates made by Romania's IMF representative Mihai Tanasescu, Romania's economic growth for 2010 was forecast between 1.3 and 1.5 percent, with an acceleration of this increase for 2011, reaching a 5-6 percent increase in the following year. Regarding the fiscal deficit, after the fiscal strengthening policies application, the IMF representative believes it will be cut down to 3 percent of the Gross Domestic Product.

Sursa: http://www.actmedia.eu

Tags: economic dragulin growth bnr

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