IMF: Romania's economic growth to moderate to 4-5% in 2009

International Monetary Fund experts estimate that Romania’s economic growth will moderate in 2009 to 4-5% from the record level of 8-9% estimated in 2008. IMF representative for Romania and Bulgaria, Juan Fernandez Ansola, quoted by NewsIn declared that the estimations are very optimistic and that the actual number might be lower.

He added that even thought the 2008 rates were very high, this is now in that past and what matters is the upcoming year’s rates. He explained that the macroeconomic conditions got worse and there are significant signs that lead to the conclusion that growth rates will drop.

Romania’s GDP grew at a record rate of 8.8% in the first semester of 2008, and it was the highest level reached since the transition period started, Romania’s National Statistics Institute data shows.