IMF: Romania’s 2010 Economic Forecast To Be Revised

Jeffrey Franks, head of the IMF mission to Bucharest, announced that the financial institution will revise its forecast on Romanian economic growth for 2010. The official hinted that the revision will be more optimistic compared to a 3% contraction envisaged by the European Bank for Reconstruction and Development.

"I'd say that EBRD's forecast is pessimistic," said Franks.

 

In its latest forecast, the IMF said Romanian economy is expected to stagnate or decline by 0.5% this year, from a 7.1% contraction a year earlier.