World Business

The foreign direct investments (FDI) in Romania fell by half in 2009, from USD 13 bn to USD 6 bn, but will grow to USD 8 bln this year and to USD 11 bn in 2011, according to a document of Economist Corporate Network, part of The Economist group, Mediafax informs. Economist Corporate Network estimates for this year a growth of GDP of around 1 per cent, after a decline of over 7.4 per cent last year, in the context in which the economic growth in the Euro zone will also remain fragile, while demand on the main export markets for Romania will further be at a low level. “The hardening of the fiscal policy will discourage the budgetary expenditures, while private consumption will be constrained by the high unemployment level. The economic relaunching will consolidate starting in 2011, when a growth of 3.5 per cent is estimated, sustained by the stronger revival of the states from Western Europe,” the Economist also shows.

The IMF delegation yesterday met President Traian Basescu at Cotroceni Palace, Antena3.ro reports. Premier Emil Boc recently mentioned that Romania will have no trouble receiving the next tranches of the IMF loan, because it fulfilled the commitments it made in view of getting the money.

On the other hand, PM Emil Boc held a briefing about the calendar of parliamentary and government actions in view of enforcing the accord signed with the IMF, PDL vice-president Adriean Videanu announced yesterday, quoted by Mediafax. “Mr. Prime Minister briefed us on the talks he had and the calendar we must follow in the parliamentary and governmental actions, so that we carry on the accord with the IMF.

IMF representative to Serbia Bogdan Lissovolik says he did not talk with the government about the union requests to increase the public sector salaries.

But he noted that the current stand-by loan arrangement between Serbia and IMF envisages that pensions and salaries in the public sector remain frozen in 2010.

“A possible increase of salaries could be realized by decreasing the number of employees, through announced reorganization of the public enterprises. There is also the issue of solidarity, having in mind that the rest of the salaries in the public sector and pensions are frozen.”