Romania’s Economic Growth Estimated at 4-6% in 2009

Romania’s gross domestic product (GDP) could increase by 4-6% in 2009, according to financial analysts who met Prime Minister Calin Popescu Tariceanu to discuss the country’s economic situation and ways to limit the impact of the financial crisis, Business Standard reported.
However, such growth is only possible if the salaries of civil servants rise at a sustainable level.
The Prime Minister and analysts discussed the risk of a rapid drop in the economic advance as of 2009. Months ago, international institutions warned that Romania’s economy could be subject to a hard landing, after significant growth in the past few years.
Growth is likely to temper due to lower exports and fewer local and foreign investments.
The expected 4-6 percent growth is significantly lower than this year’s levels. The National Prognosis Commission (CNP) last month estimated a 9.1-percent increase in GDP for 2008.