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Raiffeisen Cuts Romania GDP Growth Forecast To 0.5% In 2012

Austrian financial group Raiffeisen Thursday revised downward its forecast on Romanian economic growth to 0.5% in 2012, from 1.8% previously, due to international financial turmoil and a prolonged recession in Europe.

Florentina Dragu · 24 noiembrie 2011 · 1 min de citit

In its latest forecast report for the Central and Eastern Europe, Raiffeisen said the EU-17 bloc of countries that use the euro is likely to see a “more severe recession” than previously estimated.

The Austrian lender predicts the economy in the region will decline by 1% in 2012, from a growth of 1.5% estimated in 2011.

In southeastern Europe, Raiffeisen expects the economic growth will slow down to 0.4% in 2012, from 2% this year.

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