Loading ...According to an EBRD release, the bank also improved its estimates referring to the economic contraction in Romania in 2009 from an 8 percent decrease of the GDP, as estimated in October 2009, to a 7 percent contraction. In 2011 Romania would register a 2.3 percent increase in the GDP, according to the EBRD.
The EBRD emphasizes the fact that, in Romania’s case, the relaunch may be slowed down by the tightening of fiscal policy. According to the EBRD, the increase in the bad loans and the more cautious loan policies will diminish the wish of the banks to give loans, whereas the recovery of the foreign demand will be counterbalanced by the tightening of the fiscal policy that is necessary in many countries in the region.
Moreover, the EBRD estimated that the unemployment rate would go on increasing in many of the 29 states it operates in. The EBRD is the biggest institutional investor in Romania, with a total of 3.8 billion euros in 249 projects. In cooperation with its numerous partners the bank mobilized more than 7.2 billion euros for projects carried out in Romania.
Loading ...
Comentează acest articol