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Raiffeisen Bank estimates that the economy will stagnate in 2010

Raiffeisen Bank revised negatively the estimate regarding the evolution of the Romanian economy for this year, estimating an economic stagnation after initially expected an advance of GDP of 1%, a press release of the bank says.

The bank's analysts say that the announced measures will have a negative impact on the economic growth of this year. At the same time, they do not exclude the fact that the economy keeps in a negative territory for this year.

« The recent data showed that economic relaunching is more difficult than expected. The industrial production, retail and constructions activity disappointed in January and February, although an improvement was evident in March. Moreover, the measures of austerity announced last week by the government will have a negative impact on the economic growth of this year' the bank's communiqué shows.

Last week, the Raiffeisen analysts showed that, although the measures announced on Thursday by president Traian Basescu will have a negative effect on short term, on medium term and long term these measures will influence positively the economic growth.Raiffeisen Bank keeps the estimate of 3.5% for next year.

Sursa: http://www.actmedia.eu

Tags: economic economy raiffeisen

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