CNP estimates economic shrinkage of 7.7pc in 2009

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The National Commission for Economic Projection (CNP) forecasts for the autumn preliminary estimate an economic shrinkage for Romania worth 7.7 percent in 2009, more sever than the previous estimate – 4 percent, but below the economic contraction accounting for 8-8.5 percent, which authorities took into account in the agreement with the International Monetary Fund (IMF).

For 2010, the National Commission for Economic Projection forecasts an 0.5-percent economic growth, 2.4 percent in 2011, 3.7 percent in 2012.
CNP anticipates an economic growth worth 4.4 percent in 2013 and 5.2 percent in 2014.

According to the autumn preliminary estimate, in accordance with the GDP components, the gross domestic product in industry would register a diminution of 5.8 percent in 2009 and 1.3 percent in 2010 and it is expected to grow in 2011.

The gross added value in agriculture will report a diminution of 7.8 percent in 2009 and a growth of 1.6 percent in 2010, in constructions – diminution of 13.9 percent in 2009 and a growth of 3.6 percent in 2010, in services – diminution of 5.9 percent in 2009 and a 0.6-percent growth in 2010.

The final consumption of households will decrease 12.7 percent in 2009, but will go up 2 percent in 2010 and in public administration the reduction is of 12 percent in 2009 and 2 percent in 2010. Gross fixed capital formation will go down by 11 percent in 2009 and is expected to increase 2% in 2010.

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