Moody's: Romania won’t exceed economic crisis before 2010

Moody's: Romania won’t exceed economic crisis before 2010

Romania is in a deep recession, out of which it will not get out before 2010 and even if it is little likely for the state to come back to the economy's high rates, long term perspectives remain positive, shows a Moody’s report.

Related:

• Dinu Patriciu: „Leu currency has nothing to do with real economy”
• Magistrates’ boycott threatens economy
• Economy to drop strainedly in the 1st half
• Videanu: 10,200 employees of the Ministry of Economy will be dismissed

Romania has been caught by the world economic crisis in a poor situation, the government being forced to resort to a plan of stabilization with IMF and EU in March 2009, says Kenneth Orchard, Moody’s annalist, in a report regarding the Romanian economy.

 He thinks the political risk is not very powerful in Romania.

Moody’s is not very worried about the continuous turbulence within the Romanian political environment and about the quality of the banking system assets.

The report published by the rating agency underlines that Romania’s agreement with IMF couldn’t stop the powerful drop of production.