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World Bank: Romania to post 1.3 pct economic growth in 2010

Romania will post 1.3 percent economic growth in 2010, after a contraction of minus 7.1 percent in 2009, the World Bank anticipated in its survey The EU 10 Regular Economic Report issued in Warsaw on Thursday.

The estimated average economic growth in the EU 10 (Bulgaria, the Czech Republic, Estonia, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia and Hungary) is 1.6 percent in 2010 and 3.6 percent in 2011, after an average contraction of minus 3.6 percent in 2009, said the authors of the report that was simultaneously launched in Bucharest too, at the World Bank's Office for Romania headquarters.

The budget deficit is put at minus 5.8 percent of GDP this year in the EU 10 and at minus 6.3 percent in Romania. The unemployment rate in the EU 10 this year is seen at 9.5 percent, with 7.7 percent in Romania. The World Bank Report shows there are differences among the countries with respect to the joblessness evolution since June 2008 till January 2010, with the unemployment rising at an average of less than 4 percent in Romania.

The EU 10 states should ensure their re-launch by fiscal consolidations, a better investment climate able to boost productivity and create jobs, the Report stresses. The EU 10 Regular Economic Report is published by the World Bank three times a year, Agerpres informs.

Catalin Pauna: Romania will reach unemployment peak in mid-2010

Romania will reach unemployment peak at the middle of the current year, World Banc senior economist Catalin Pauna said on Thursday, April 1. He added that it was difficult to make a prediction because the signs the economy shows are not clear. The World Bank official indicated that he was expecting the unemployment rate to grow, both in the private and the public sector.

'The unemployment will continue to go up as the companies will carry on being restructured. I believe that the redundancy rate will increase, at least in the next months', Catalin Pauna said. The World Bank estimates the official unemployment rate to reach 7.7% in Romania by the end of 2010. The figures are actually dropping if one looks at the December 2009 redundancy percentage, namely 8.4%. According to the National Employment Agency (ANOFM), the unemployment rate was 8.1% in January, going up to 8.3% in February, compared with 4.9%, the figures for February 2009.

Sursa: http://www.actmedia.eu

Tags: percent romania world unemployment report growth economic

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