Romania’s economy could resume growing in last quarter of 2009

Romania’s economy could resume growing in this October, Public Finances Minister Gheorghe Pogea said during Tuesday’s talks with the social partners on the public sector salary, according to a spokesman for the Association of the Employers’ Confederations of Romania.

Pogea explained the trade unions and employers’ representatives that the estimate is based on the evaluation made by the International Monetary Fund (IMF) experts.

According to the figures unveiled by the finances minister, the gross domestic product value in 2009, on which the budget revision will be based, is of 497.3 billion lei, to go up to 525.1 billion lei in 2010, to 576.7 billion lei in 2011, to 655.6 billion lei in 2012, to 753.5 billion lei in 2013, to 843.5 billion lei in 2014 and to 944.4 billion lei in 2015.

The Romanian GDP contracted 8.8 percent in the second quarter of this year and it was down 7.6 percent in the first half-year, show early estimates made by the National Institute of Statistics.

Its preliminary figures show the Romanian GDP shrank 1.2 percent from the previous quarter.
The Romanian GDP was down 6.2 percent in the first quarter from the same period in 2008, according to the Statistics Institute’s revised figures made public in June.

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