Romanian Economy Could Decline In 2010 As Well - Fin Min

Romania and the International Monetary Fund officials have discussed a possible scenario indicating an economic decline in 2010, but a final forecast has not been presented yet, Finance Minister Sebastian Vladescu said Monday.

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An IMF mission arrived in Bucharest April 27 for the fourth review of Romania's performance under a EUR13 billion loan signed last year.

Speaking at the end of a meeting with IMF representatives, Vladescu said the Monday talks focused on the recent evolution regarding the budget revenue, public expenditure, the deficit and Romania's structural measures.

No conclusions were drawn, Vladescu added.

The IMF recently revised down its forecast on Romania's growth to 0.8% in 2010 from 1.3% previously.

According to representatives of Romanian employers associations, the IMF could cut again its growth estimate for the eastern European country. An optimistic scenario will include zero economic growth, the representatives said.

Romania's economy contracted by 7.1% in 2009, after a 7.1% growth in the previous year.

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