BNR Admits It Did Not Anticipate Extent Of 2009 Recession. Will Romania Avoid Recession In 2012?

03.08.2012 ZF English

The Romanian central bank, or BNR, admitted half-heartedly at the beginning of this week, through the voice of the central bank’s deputy governor Cristian Popa, that it had not expected the extent of the 2009 recession, when the economy plunged 7.1% and budget revenues fell 5%. Also far from reality were the forecasts of the International Monetary Fund and the government.

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