Investor confidence in Romanian business environment drops

Investor confidence in the Romanian business environment worsened significantly this summer following three quarters of positive evolution, a survey conducted by Reuters and OeKB Austria shows. On the other hand, the business environment improved in the region, with significantly better situations being reported in Russia and Ukraine, Mediafax informs.

"In Romania the new austerity measures will push the country into a new economic contraction this year and the investors' opinion about the business environment deteriorated for the first time this year," Reuters informs. The investor confidence index dropped from 18 in April to 11 in July. In Central and Eastern Europe the index grew from 21 to 23 during the same period, the highest improvements being reported in Ukraine (from -11 to 10) and Russia (from 25 to 35). Bulgaria also reported a significant deterioration in investor confidence in the last three months, similar to that in Romania, however Bulgaria set off from a weaker basis.

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