Romanian analysts are planning to improve their economic growthforecasts this year, after above-expectations data have beenannounced as regards the economic progression in 2010.
BCR, the biggest bank on the Romanian market, currently expects a1.2% economic growth for this year, and intends to revise itsforecast upwards.
BRD-SocGen, the second-largest player on the banking market, alsoexpects the GDP to grow to 1.2% and is considering arevision.
The economic decline recorded in 2010 was 1.2%, lower thananalysts' estimates and than the official forecast of the IMF andthe Romanian authorities, of 1.9%.
For this year, most analysts' GDP forecasts range between 0.5 and1.5%. The IMF and the Government anticipate a real GDP rise of1.5%.
"We will update our 2011 forecast, but after we have seen detaileddata of the GDP structure. The first half of the year may not bevery convincing. But in the second half, we could see the economyspeed up. We could grow at a faster rate than the eurozone's 1.5%estimated growth," commented Lucian Anghel, chief economist ofBCR.
The EBRD, the biggest institutional investor in Romania, hasalready improved its forecast for 2011, from 0.9% to 1.1%, after inthe summer it forecast zero growth.
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