IMF says the Romanian economy is starting to rebound, exports continue to increase and consumer and investor confidence, although low, is showing signs of recovery, yet warns that there is a risk that the Government might drop certain reforms because the economy is picking up.
"Many analysts expect Romania's economy to grow faster than the region's on medium term. We cannot relax reforms in Romania. The markets are now seeing Romania doing what it is supposed to do," believe the IMF officials, according to sources close to the talks between the officials in Washington and the Romanian authorities.
IMF experts are considering revising forecasts about macroeconomic indicators, but there will not be any radical changes.
The base scenario has IMF estimating a 1.5% economic growth this year. However, the Romanian authorities and the Fund did not rule out the continuation of recession this year, too, forecasting a 0.5% decline in 2011 in a worst-case scenario. It remains to be seen how much the economic growth forecast will be changed and whether the recession scenario will be considered or not.
IMF says the Romanian economy is starting to rebound, exports continue to increase and consumer and investor confidence, although low, is showing signs of recovery, yet warns that there is a risk that the Government might drop certain reforms because the economy is picking up.
"Many analysts expect Romania's economy to grow faster than the region's on medium term. We cannot relax reforms in Romania. The markets are now seeing Romania doing what it is supposed to do," believe the IMF officials, according to sources close to the talks between the officials in Washington and the Romanian authorities.
IMF experts are considering revising forecasts about macroeconomic indicators, but there will not be any radical changes.
The base scenario h
