Voineagu (INS): Economy can emerge from current crisis in second half of this year

Further growth of industrial production, good results in agriculture following favorable climatic conditions and building sector revival are to back up the economy to emerge from this current crisis, announced on Thursday President of the National Statistics Institute (INS) Vergil Voineagu.

„Optimistically speaking, I believe the economy could emerge from the crisis in the second half of the year, given the five-month growth of the industrial output, of a growth in the agricultural sector due to favorable climatic conditions and of the building sector revival”, said Voineagu.

On the other hand, the INS official stressed he was worried over a decline in the field of investments, mainly in the equipment sector, and about the managers’ opinions who forsee a likely drop in the services field and an unemployment increase.

Governor of Romania’s National Bank (BNR) Mugur Isarescu stated on Wednesday, Sept. 9, that the economy is to recover in Q3 or Q4 and the economic evolution cannot be other than a positive one.

„I believe that a recovery will happen in Q3 and Q4 and it cannot go otherwise but upward. We can already see a recovery in industrial production field since April, a relevant evolution especially because it accounts for a third of the GDP „, said BNR Governor.

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