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IMF: Romania to record economic growth of 1.5 % in 2011

Romania will record an economic growth of 1.5 percent in 2011 and of 3.5-4 percent in 2012, head of the International Monetary Fund (IMF) mission for Romania Jeffrey Franks said on Monday.

'We did not make important changes on projections. The economic activity is slowly recovering and we predict a growth of about 1.5 percent in 2011, backed by sound exports, a good agricultural year and the gradual increase of the domestic demand. In 2012 the Gross Domestic Product growth will continue its upward trend of 3.5-4 percent,' Franks pointed out.

The IMF official also said that the important thing is to maintain a cautious policy in order to provide protection against possible future shocks and to continue efforts to ramp up European fund absorption in order to ensure the economic revival.

The IMF, the European Commission (EC) and the World Bank (WB) on Monday unveil the conclusions of the mission on the progress the Romanian authorities have made in their bid to meet the assumed commitments. This is the second assessment mission set up in the precautionary stand-by agreement signed between Romania and the above-mentioned international financial institutions.

Sursa: http://www.actmedia.eu

Tags: growth economic romania

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