Coface forecasts economic growth by approx. 1 pct in Romania in 2010

Coface forecasted only a modest growth in the Romanian economy in 2010, by some 1 percent, manager of the rating agency Cofac e Romania Cristian Ionescu on Wednesday announced, at the 6th edition of the Country Risk Conference.

He specified that the economic upheaval in Romania will be difficult next year, with the companies currently being over-indebted, with debts more in foreign currency, and also because of the low risk appetite of the investors.

The financial companies were also strongly affected in 2009, being expected to have next year their own financial difficulty to deal with.
According to Coface, the private consumption and the consumers’ trust will maintain at low levels next year, while unemployment will most probably go up in the second half of the year.

Moreover, the macroeconomic stability will depend on the authorities’ ability to observe the terms of the arrangement with the international financial institutions.

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