Economic growth in Romania to resume 8-12 months later than in developed states

Publish date: 24-09-2009
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Economic growth in Romania will resume with a relative delay vs the economically developed states, but not by more than 8-12 months, Lucian Croitoru, adviser of the governor of Romania's Central Bank (BNR) told a financial conference on Wednesday.

He mentioned that the crisis in Romania started one and a half year later than in developed states, and the crisis has come rapidly at four levels, trade, financing, confidence and the exchange rate.

"These channels will act symmetrically also for the reinvigoration of the economy of Romania," said the BNR official.

Croitoru also said that there are already signs in the world of the end of the crisis - asset prices got stabilized in the US, the world trade seems to breath a new lease of life, and the United States expect an economic growth of 2.5 percent in Q4.


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