Coface: Romania will reach the 2008 value of the GDP per capita in 2013-2014

Newsroom 20/01/2011 | 13:47

The value of the GDP per capita will reach the level it had in 2008 barely in 2013-2014, according to estimations by Coface rating agency.

Coface foresees an economic growth of 1.5 percent in 2011, compared to 1.9 percent last year, and an inflation of 5.2 percent above the target of the central bank. Romania’s economic growth this year will be the lowest in the Central and Eastern European region.

Agriculture will continue to have an important impact on the GDP and the appetite for risk of foreign investors will continue to be low. Consumers will continue to be cautious, so consumption will be reinvigorated with difficulty.

Coface maintained in January Romania’s country rating at B and estimates the economy will only have a slight growth. The main engines of growth will be export and the growth in the industrial production.

“We will post an economic growth of 1.5 percent in 2011 only if we do not create problems for ourselves, especially from the political viewpoint. It is important that political risks do not have a significant role. There is no risk at an international level that will affect our economy that we can blame,” said Cristian Ionescu, country manager for Romania, Bulgaria and Slovakia of Coface.