Romania’s GDP grew by almost 2 percent in 2011 and the budget deficit was below the target of 4.4 percent, Prime Minister Emil Boc said on Wednesday. He added that one of the government’s main objectives this year will be to attract about EUR 7 billion worth of European funds which will mean a 20 percent absorption rate. Other targets mentioned by the PM at the beginning of Wednesday's government meeting were to continue the tax reform, the restructuring of state companies and the health system, to enforce the law education, the Labour Code and Law of social dialogue and to continue [...]

Romanian President Traian Basescu stated that Romania will register an economic growth ranging from 1.7 to 2.7 percent of GDP, based on the latest evaluations of the troika, the joint-mission of the IMF, EC and World Bank. This statement was made at the end of the meeting between the Romanian president and the troika review mission. He added that no additional cuts will be made to the payments of public sector workers or pensioners. Basescu mentioned that Romania will register an economic growth of at least 1.5 percent of GDP this year, although he personally hopers it will reach 2 percent, although [...]

Romania’s economy might crawl for a very long time, with GDP growth of 1%-3%, since its evolution greatly depends on the exterior, and capital inflows aren’t what they used to be, Tuesday said Lucian Croitoru, adviser to the central bank governor. source: Ziarul Financiar

The IMF projects a positive outlook of the Romanian economy in 2012, according to the second review that an IMF team took following recent discussion with the Romanian authorities. The economic growth for this year will reach 1.5 percent, initially led by exports, but with domestic demand picking up in the second half of this year. This is attributable to a good agricultural output and a recovery in the labor market. The initial growth rate of 3.5 – 4 percent will be slashed, according to Jeffrey Franks, head of the Romanian IMF mission. Franks declared for Mediafax newswire that Romania will [...]

Romania's economic growth projection for 2012 will be revised, taking into account the financial turbulence that keeps Europe on the edge, Prime Minister Emil Boc declared on Wednesday at the opening of the 2011-2012 Legal Year, in the Romanian Academy Auditorium. In this context, the Premier asked the institutional players in the Romanian judicial system to participate alongside the other powers in the strengthening of the Romanian state, adding that data available to the government shows that Europe and the world have not yet put the difficult times behind. 'Romania's indebtedness [...]