Exports and the rebound of Western economies are triggering thefirst upbeat tones among Romanian executives and entrepreneurs,who, though cautious and criticising the political environment, saythe fourth quarter is likely to be better for some industries thanthe same period of last year.
"It's a little better compared with the end of last year. As forthe entire economy as well I believe the yearend will be better asother economies have started picking up, exports have rebounded andeven the state has some works underway," said Cristian Secoşan,general manager of Siemens Romania.
Nevertheless, Romanian entrepreneurs say the revival of theRomanian economy cannot be based on exports alone, and the VATincrease from 19% to 24% and the 25% cut in public sectoremployees' salaries this July were new blows dealt to consumption,which had started stabilising during summer months.
While exports and the recovery of foreign markets are driving uppart of the Romanian business as well, the lack of some coherentmoves to jumpstart the economy and political instability arefurther delaying the Romanian economy's return to growth.
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