Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

Romanian economy shows no signs of slowed down growth - IMF

The Romanian economy doesn't seem to show signs of slowed down growth, amid the world financial turbulence, IMF regional representative for Romania and Bulgaria Juan Jose Fernandez-Ansola told a news conference on Wednesday.

The IMF, in a report on Regional Economic Outlook unveiled in Bucharest, estimates however that the advance of the Romanian gross domestic product will drop from 6 percent in 2007 to 5.4 percent in 2008 and to 4.7 percent in 2009, against the background of the world financial crisis.Ansola stressed that there is, at the same time, the probability that the Romanian economy continue its boom seen in the previous years. Prices on Romanian real estate market might decrease slightly, says IMF The prices on the real estate market in Romania might stop increasing or even start decreasing slightly if there are diminutions of the foreign capital injections and the interest rates grow as a result of inflation pressures, said Juan Jose Fernandez-Ansola. But he said that it was very difficult to ascertain the situation of the current prices in the real estate field in Romania when related to the economic fundamentals. 'We do not have enough data to make a good assessment of the prices on the real estate market in Romania as we have in other states,' said the IMF official. Minister of Economy and Finance Varujan Vosganian said recently that the prices on the real estate market would stabilize in the second part of 2008. According to the Minister of Finance, one of the reasons that led to the growth of the real estate market by over 30 percent in the past year is the stability of the financial markets and the appearance of the possibility to give long-term loans to people.On the other hand, Governor of the National Bank of Romania (BNR) Mugur Isarescu said a few days ago that BNR might publish, in one and a half months, the first information of the real estate market index. He made it clear that the BNR technicians and the ones of the Union of Notaries Public in Romania would decide on how the very diverse information of the real estate market was calibrated. He made it clear it was no matter of controlling the prices on the real estate market, it was a matter of extremely important statistical information as decisions were made depending on their truthfulness. Lack of transparency confines an efficient evaluation of the Cabinet’s wage policies, IMF deems The Romanian government’s efficiency in controlling salary policies is difficult to assess on lack of transparency, yet the authorities’ speech shows signs of rising awareness over these risks, the International Monetary Fund (IMF) representative Juan Jose Fernandez-Ansola said. The Cabinet should control wage hikes in the public field in order to unearth pressures that may spread over to the private field and plague the spiral salaries-prices, Ansola said, in a speech similar to those of central European bankers. He warned wage policies are not completely transparent because public servants receive, besides incomes, all sorts of bonuses which are not strictly supervised. Inflation in Romania accelerated on hike of foodstuff prices, Ansola reminded and noted it is important to avoid any secondary effects that may stem from the spiral and keep a close eye on the control of wage policies. Unions in Romania as well as in other countries have been requesting salary increases starting the beginning of the year, in the background of price hikes on foodstuff which reduced purchasing power. Annual inflation in Romania posted an upward trend over the past months and reached a two-year and two-month peak in March when it stood at 8.63 percent following the 10 percent price hike on foodstuff. Annual inflation lowered below 4 percent last year, the lowest level after the communist regime collapsed. Inflation advanced in developed European countries too. In Eurozone annual inflation hit the record of 3.6 percent in March following the increase of foodstuff and fuel prices. Sursa: http://www.actmedia.ro

Tags: prices estate market inflation percent ansola economy signs growth romanian romania bnr

Articole similare