Romanian Ctrl Bker Says Economy Will Revive As Of Q3 Or Q4Publish date: 10-09-2009
The Romanian economy will return to growth in the fourth quarter, if not even in the third quarter, on a favorable base effect, central bank governor Mugur Isarescu said Wednesday.
"The economy will revive in the third or fourth quarter. If not in the third, then most certainly in the last quarter, due to the base effect," Isarescu said during a seminar organized at the central bank.
The economy will most likely see a V-shaped recovery, as the industrial production is already reviving for a minimum touched in February-March.
Romania's economy is expected to contract by 8%-8.5% this year, after a 7.6% drop of the gross domestic product in the first half compared with the same period of 2008.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei