Ernst & Young: Romanian GDP Likely To Grow 1% In 2011

Romanian economy is likely to grow by a meager 1% in 2011, mostly driven by exports, but domestic demand remains subdued, Ernst & Young said in a report Tuesday.

71 views

For 2012, the analysts estimate an economic growth of up to 4%, as investments and local demand are expected to pick up.

However, is highly unlikely that Romania will be able to reduce its budget deficit to 3% of the gross domestic product by 2015, Ernst & Young said.

Romanian authorities forecast an economic growth of 1.5% in 2011, after a contraction of 1.3% a year earlier.

The budget deficit target was set at 4.4% of GDP this year and below 3% of GDP in 2012.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.