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IMF: Romania Economy To Grow 3.6% In 2011 Vs Decline In 2010
The International Monetary Fund forecasts Romania’s economy will grow 3.6% in 2011, following a possible minor contraction envisaged for this year, IMF mission head Jeffrey Franks said in Bucharest Monday.
Speaking in a press conference, Franks said the economic evolution in the first part of the year was below expectations, due both to bad weather and weak performance of Romania's commercial partners.
Last month, the IMF revised its forecast on Romania's economic growth for 2010, from 1.3% to 0.8%.
But following discussions with the Romanian authorities in the last two weeks, the IMF now expects Romania's GDP growth to be around zero or even negative.
Franks said the Romanian authorities have chosen to implement an ambitious yet harsh program to drastically cut spending in the public sector and limit the budget deficit to 6.8% of the gross domestic product in 2010.
Without these measures, the budget gap would have widened to 9.1% of GDP this year, Franks said.
Initially, Romania and the IMF had agreed to a budget deficit of 5.9% of GDP this year, from 7.4% of GDP in 2009.
Joint teams from the IMF, the European Commission and the World Bank arrived in Bucharest April 27 for the fourth review of Romania's performance under a EUR20 billion bailout loan signed last spring.
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Antonescu: Ponta nu a minţit spunând, precum Băsescu, că ”va curge lapte şi miere”
Politic astăzi, 15:15
Preşedintele PNL, Crin Antonescu, a declarat, sâmbătă, la lansarea candidaţilor USL Neamţ, că îl felicită pe premierul Victor Ponta pentru că nu a minţit spunând, precum preşedintele Traian Băsescu, că "va curge lapte şi miere". citeşte tot
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Producătorul "Dallas" Lee Rich a murit la 93 de ani
Life-Inedit astăzi, 14:34
Producătorul de televiziune Lee Rich, omul din spatele unor seriale de succes ca "Dallas" şi "The Waltons", a murit joi, la vârsta de 93 de ani, de cancer pulmonar, în casa lui din Los Angeles, potrivit latimes.com. citeşte tot





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