Romanians To See Improved Living Standards In ’12 - Ctrl Bk Gov

"An improvement in living standards will probably be felt by the population in 2012, but this does not mean the economy will decrease in 2011. Our expectations point to 1.5% economic growth next year, maybe more," Isarescu said.

The recent decreases in living standards, in Isarescu's view, came as a natural and unavoidable reaction to an interval where growth was excessive, including in revenues.

"The adjustment is unavoidable, but the manner in which it is performed depends on the government. The distribution and cutbacks are a matter of political decision," Isarescu said.

The International Monetary Fund, or IMF, expects Romania's gross domestic product per capita to return to 2008 values in 2013.

Thus, while Romania had in 2008 a $9,500 GDP per capita, the index fell to $7,500 last year and $7,390 this year. Expectations place the indicator at $7,700 next year, $8,700 in 2012 and $9,800 in 2013.

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