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Difficult Year Ahead For Romanian Economy - Coface

Romania faces a difficult economic year in 2012, amid shrinking demand from foreign partners as the euro zone crisis shows no sign of abatement and potential bank deleveraging as European lenders adjust their capital ratios to the latest requirements, according to estimates of Coface ratings agency.

Florentina Dragu · 18 ianuarie 2012 · 1 min de citit

“Against this unfavorable background, Romanian companies are likely to deal with a falling demand for exports and a more difficult access to financing, coupled with a weak domestic consumption and a low investment level,” said Cristian Ionescu, Coface country cluster manager for Romania, Bulgaria and Slovakia.

Coface left its sovereign rating on Romania unchanged at “B” and estimates the economy would grow by 1% to 1.5% in 2012, after a modest recovery predicted for 2011. Romania has been under a ‘B’ rating since June 2009.

“The only way Romania’s economy will grow in 2012 is if public investments and the absorption rate for European funds increase substantially,” Ionescu said.

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