AFP, The International Monetary Fund (IMF) and the European Union trimmed Romania’s 2012 growth forecast to 1.5%-2.0% due to international economic turbulence. ” For 2012 we have slightly revised down our forecast in light of the more difficult economic environment in the Euro area,” the IMF’s representative Jeffrey Franks declared.  “We now project growth of [...]

Balkans.com, According to representatives of the investment company Franklin Templeton Emerging Markets and Proprietatea Fund (FP),  Romania`s economy could be the first to emerge from the European crisis with strong economic growth. Fitch upgraded Romania from BB+ to BBB-, whereas most EU member states were harshly downgraded. According to Franklin Templeton representatives, retail and major [...]

Balkans.com,  Romania’s general consolidated budget ended 2011 with a deficit of RON23.8 bn (4.35% of GDP),  below the 4.4% of GDP target agreed with the IMF.

Source: Balkans.com The European Bank for Reconstruction and Development (EBRD) estimated that Romania’s GDP had grown by 2.5% in 2011 instead of 1% as previously estimated. EBRD has worsened Romania’s economic growth forecast for 2012 from 1.1% to 0.8% as a result of the economic slowdown in the Euro area.

Source: Act Media Romanian exports on the German market gained 31.1% during the first eleven months of 2011 up to €7.8bn by the end of November 2011.

Source: Balkans.com Romania’s budget deficit narrowed to 4.35% of GDP in 2011 from 6.5% of GDP in 2010, below the 4.4% target set for 2011.

Source: Business Review The annual inflation rate dropped to 3.14% in December, from the 3.44% recorded in November. The National Bank of Romania (NBR) projects an annual inflation of 3% this year.

Source: Balkans.com In their annual report for 2011, the rating agency Moody’s stated they expect Romania to have a 2.2% growth this year, once European fund absorption speeds up, while inflation is expected to hold close to the target. Moody’s also notices that economic uncertainty in Europe, against the backdrop of the sovereign debt crisis, [...]

Source: Mediafax  Romanian President, Traian Basescu, declared on Thursday, after meeting German Chancellor Angela Merkel, that Romania would start a large privatization process, involving thermal power producers Turceni, Rovinari and Craiova and railroad freight transporter CFR Marfa. Asked about the areas where Romania would like to receive German investment, President Basescu declared it was no [...]

Source: Balkans.com  Mugur Isarescu, the Governor of the National Bank of Romania (BNR) announced on 7th of November that BNR had revised downward its inflation rate forecast for the end of this year from 4.6%  to 3.3% and had lowered its forecast for next year from 3.5% to 3%.