Moody's report: Romania faces difficult economic recession

Romania will go through a difficult economic recession, a new Moody’s report says, quoted by Romanian news agency Mediafax. But the rating agency expects the country would avoid a major collapse considering the relatively low debt in the private sector and its low dependency on foreign trade.

The report sees ample evidence the Romanian economy is slowing fast. Export-oriented sectors are dropping production and the construction works industry faces trouble, but the liquidity on the market has improved since February while the central bank maintains interests at a high level to support the currency of the country, the report says.