CNP to revise upwards to 1.7% economic growth prognosis for 2011

'This week our prognosis is 1.7 percent from 1.5 percent for 2011, with a partial impact of agriculture. We could have even more in reality. The data supplied by the relevant ministry show a special quality of the farm output, which means added value. We shall have a wider reflection of vegetal production in the GDP,' said Ghizdeanu.

On the other hand, said the CNP chairman, the construction field recovers more slowly, a 0.5 percent decrease being registered in seven months.

As for the economic growth prognosis for 2012, Ghizdeanu said that several segments are being examined, namely 2.5-3-3.2 percent down from the 3.5-4 percent initial prognosis.

'At this time all data and information say that next year there will be a slowdown of the economic growth in Europe, with the main partner countries and, obviously, with us too. Consequently we shall make a 3.5-4 percent prognosis revision, which was included in the fiscal and budget strategy. We are making a final analysis, the segment can be 2.5-3-3.2 percent. If we have signals from the new ministry referring to the structural funds, they can compensate. Question is how much the domestic demand (public investments and structural funds) compensates the slowdown of the foreign demand,' said the CNP chairman.