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Romania MOF Upgrades GDP Estimate, Sees Contraction Of 7%-7.5% In ‘09

Romanian Finance Ministry revised upward its forecast for economic growth in 2009 and it now expects the gross domestic product to shrink by 7%-7.5%, from a decline of 8% initially estimated, a ministry official said Thursday. "Though the contraction was initially seen at 8%, in light of the latest data we expect the GDP decline to be between 7% and 7.5%," said Gratiela Iordache, state secretary at the ministry. The International Monetary Fund recently upgraded its estimation on Romania's ...

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