Romanian Ctrl Bker Says Economy Will Revive As Of Q3 Or Q4

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.

mediafax.ro