Romania MOF Upgrades GDP Estimate, Sees Contraction Of 7%-7.5% In ‘09
Friday, November 20, 2009
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 ...