The IMF says the probability of recession returning to Romaniathis year is very low and expects economic results will confirm thereturn of growth.
Although industrial production has been on a steady rise andexports are reaching historic highs, the low consumption is drivingthe economy down. But consumption will in turn rise, says the IMF.Franks has commended the "fiscal performance" and the fact that thedeficit has been kept within the agreed limits. But the bigchallenge comes next year, when the government will have tocontinue to cut the deficit towards 3% of GDP, i.e. 3.5-4.5 billioneuros from 4.4% of GDP this year. This deficit level is achieved bycutting investments, not paying arrears to the private sector, andby cutting employees in the public sector.
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