Romanian growth

Romania had its economic growth forecast lowered to 0.9 percent this year by ING Groep NV, which cited severe winter weather that caused a lingering recession. Romania’s economy may grow more slowly than the previously forecast 1.9 percent, Bucharest-based ING economists Nicolaie Alexandru-Chidesciuc and Vlad Muscalu wrote in a report e-mailed yesterday. The country’s economy probably shrank 0.4 percent in the first quarter, according to the report. The government, which obtained a 20-billion-euro ($27 billion) bailout from an International Monetary Fund-led group last year, predicted the economy will start growing as early as the first quarter. A more protracted recession may fuel interest-rate cuts, according to ING. (Bloomberg)



17 April 2010