IMF: Romania's GDP growth could be negative in 2009

Romania’s economic growth could be negative for 2009, due to a decrease in exports, harsh conditions for credits and the decrease in consumption and investments, IMF announced, quoted by Mediafax.

IMF forecasts that Romania’s economy will drop this year by 1% after it downgraded its latest GDP growth estimation. Romania is currently extremely affected by the world recession. Even if the economic growth rates maintained at the same level in the first three quarters of 2008, production indicators started to deteriorate rapidly in the last few months of the year.

IMF experts consider that the industrial production in Romania dropped, together with the trust of consumers and companies which will cause a negative GDP rate for 2009. According to the Fund, the economic growth will register a modest comeback in the last part of 2009 or even 2010.