Romanian Econ Poised To Stagnate In 2010 - Survey

Romanian economy is likely to stagnate in 2010, same as neighbors Bulgaria and Hungary, but it’s seen growing by 3% in 2011, according to a survey from Vienna-based Institute for International Economic Studies.

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For 2012, the Austrian think-tank estimated a slightly higher growth, of 4%.

However, the recovery will be sluggish, the survey noted. It said unemployment in Central and Eastern Europe should remain at the 2009 rates throughout 2010 as well.

In addition, lending is expected to fall further in 2010.

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