IMF upgrades Romania budget deficit forecasts

Romania’s Gross Domestic Product will contract by around 7% this year, less than the latest estimate, buoyed by the increase in external demand. In 2010 the economy will perform better than initially expected, IMF mission chief, Jeffrey Franks said Thursday after the visit in Romania.“Macroeconomic outlook on Romania are better than we expected early November, due to a stronger external demand. We expect the economy to contract 7% this year and to return in the positive territory next ...

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