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IMF World Economic Outlook: Romania's economy will grow 5.1% In 2011

According to the latest World Economic Outlook , the International Monetary Fund estimates Romania's economy will grow 5.1% in 2011, the biggest increase in the European Union, compared with a modest growth of 0.8% envisaged for this year.

Last week, IMF cut its growth forecast for Romania this year to 0.8% from 1.3% previously, due to weaker-than-expected economic results in the last quarter of 2009 and feeble consumption. The IMF and Romanian authorities will discuss the new figures at the fund's new review mission on the country's EUR13 billion loan agreement scheduled for April 27-May 7.The agreement, signed early 2009, is part of a wider package that includes funds from the European Union, the World Bank and other international lenders.So far, Romania has received around EUR11.5 billion from the total aid package.

IMF increased the estimate regarding the average increase of consumption prices in Romania in 2010

IMF revised the estimate for 2010 regarding the average increase of consumption prices in Romania, by 0.4percentage points, at 4% according to the report World Economic Outlook. For 2011, the IMF anticipates an advance of prices of 3.1%. According to IMF, Romania will record a current account deficit of 5.5% both this year and in 2011, under that of 5.6% anticipated in the report regarding the perspectives of the world economy published in October 2009. IMF revised the estimate regarding the economic growth of Romania for this year, from 1.3% to 0.8% but for 2011 it anticipates an advance of 5.1% the quickest in the EU the report shows. Romania has a stand-by agreement with IMF for two years for the sum of 12.95 billion euro, money which go to the BNR reserve, the total package of foreign financing from the Fund, the EU, WB and BERD being 19.95 billion euro.

Sursa: http://www.actmedia.eu

Tags: romania world economy economic outlook euro berd bnr

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