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XTB : Romania has to stimulate investment and production

Romania got out of recession at the end of Q1 but there is still need to find a new engine, outside exports to take over the leading role.

The majority of prices and the continuation of reshuffling in the public sector can limit the potential of expansion, the analysts of X-trade Brokers Romania said.

The private sector needs economic stimulus and at the same time they need to accentuate investments, innovation and promotion on domestic market and foreign market.

The data published by the National Commission for Prognosis (CNP) for the Q1 2011 show a growth of 0.6% against the last Q of 2010 and 0.3% against the Q1 of 2010, showing technically the coming out of recession. The industrial production was good, contributing to the expansion after limiting the drop of the economy in 2009 – 2010. Industry developed on the basis of foreign demand, in a context where exporters were favoured by the depreciaton of the exchange rate during this period.

Exports reached 4.08 billion euro in March, going up by approximately 40% against 2010 ; in January 2009 there were only 2.3 billion euro.

« To continue the economic growth during the second quarter, Romania needs to stimulate investment and production inclusively for domestic use. The private sector needs economic and fiscal stimulants and at the same time, the companies need to manifest more dare as regards investments, innovation, promotion on the domestic and foreign market, etc. It is time for economic growth and business growth » Victor Safta, the manager of the branch of X-Trade Brokers in Romania said. The fuel for acceleration of industry through the export channel seems to have been used. The tendency to strengthen the leu, visible especially in February, led the exchange rate by 3.8% lower than at the beginning of the year, reducing the income expressed in lei of exporters, an analysis report of XTB shows.

On the other hand, the economy of euro zone would be affected by supplementary growth of the key interest rate of the European Central Bank, while the austerity programmes will restrict the markets of several European states with big deficits. « A restructuring of the Greek debt would have major effects on the trust of investors and would affect the easiness to get financing at European level. In these conditions, to have a solid coming back, it takes other sectors to take over » Victor Safta said.

Sursa: http://www.actmedia.eu

Tags: growth production romania euro