Traian Basescu: Romania Is Recovering From Recession

According to Romanian President Traian Basescu, present at the national TV channel Tuesday, the country seems to be recovering from the recession and will switch back to economic growth in the first quarter of 2010. "It seems we're recovering from the recession. There's growth of 21.3% in September industrial output compared to August, growth of 13.2% in construction, growth of 2.8% in retail car sales. We also have sectors posting decreases but agricultural in September is 1% higher not compared to August 2009 but to August-September 2008," Basescu said.

 

He added that, in his opinion, the economic downturn in the third quarter will be of less than -8%, which will probably lead to resumed economic growth sometime in the first quarter of 2010. “We're leaving the recession behind without having a government," Basescu concluded.

 

Also Tuesday, on another TV station, the president said Romania is over the peak of the economic crisis.