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EBRD forecasts 2% economic decline for Romania in 2010

Peter Sanfey, chief economist of the European Bank for Reconstruction and Development (EBRD), revealed on Thursday, within a relevant conference, a few figures from the Transition Report that EBRD will launch officially next week in London, according to which Romania will have 2% economic decrease in 2010 and slight rise of 0.9% in 2011.

Sanfey added the region is in transition but 'fared well through the economic crisis'.

According to a Wednesday-released opinion poll conducted by the Romanian Financial-Banking Analysts' Association (AAFBR) among its members, GDP contraction will continue in Q4 2010 (minus 0.1% quarterly rate and minus 2.5% annual one) and GDP decrease will reach minus 2.2%, with opinions varying between minus 1.6% and minus 2.8%.

For 2011, the participants in the opinion poll expect GDP growth rate of 1.2% (estimates vary between minus 1.8% and 2%).

AAFBR is holding on Thursday, at BNR, the 2nd edition of the annual conference on the effects of the world financial and economic crisis.

The conference was opened by Mugur Isarescu, who sent participants a video message.

AAFBR is a not-for-profit professional association set up in January 2008, made up of over 60 analysts from banking sector, capital market, pension funds, investment management companies and insurance ones.

Sursa: http://www.agerpres.ro

Tags: economic minus bnr

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