Romania To Register Economic Growth In 2011, “Mini-Boom” Expected In 2012 – WIIW

Romania’s gross domestic product (GDP) will grow by 2% this year, by 4% in 2012 and by 3% in 2013, according to a WIIW report.

At the end of last year, WIIW analysts estimated that the country’s economy will register a 1% growth in 2011 and a 2.5% growth in 2012.

A return to the pre-crisis boom is impossible due to constrained external financing, said Gabor Hunya, WIIW senior economist. He added that a mini-boom can be expected in 2012 and it might be followed by a new wave of fiscal stabilization and growth deceleration.

According to Gabor Hunya, economic growth depends on the economic policies and the response of the capital markets.

Romania’s financial aid program with the International Monetary Fund was considered successful and the country’s fiscal plan for 2011-2012 is seen as sustainable, reads the report. Still, the country’s economic path in the future is unclear.

Eurostat: Romania, the fastest economic growth in the European Union

None of the governments that ruled Romania over the past two years offered a credible fiscal program, said the report.