Eastern European countries go out of recession, but not Romania

While neighbor countries have taken drastic measures to revive economy, Romania takes populists decisions, in full electoral campaign, deepening even more financial downfall. Eastern Europe countries that enacted restrictive politics in due time are now taking advantage of the increase o appetite for Western imports.

The rhythm of the economic decrease in Central and Eastern Europe countries has been slowing down in the third quarter, with Western trade partners encountering an increasing side. The request for region countries exports has risen, especially in the case of four states: Hungary, Czech Republic, Slovakia and Poland.

In Romania, exports balance in relation to GDP is strongly negative, -15%. On the other hand, Hungary began to register trade gluts, this year, exports’ value exceeding imports. Counting among the new EU entries, Romania will probably be the only country to register a deeper economic decline in t third quarter of this year, comparative to 2008’s same period.

Specialists reported for Bloomberg news agency that Romanian GDP would keep on decreasing, to -9% in the third quarter, comparing to the previous quarter, when GDP was -8.7%. The increase in demand of goods ans services present in the European Union countries had no real influence on our country, in the sense of an economic recovery.

”We begin to see an improvement of the situation in the Eastern Europe, with the stabilization of the external climate” says Neil Shearing, economist in Capital Economics, London.

„Economic recovery always begins with the Western European countries, which contribute to the increase of regional exports and to the reestablishment of the capital flow” added Shearing.