IMF survey: Romania most pessimistic about economy, finances in emerging Europe
The IMF said some of the emerging Europe countries have been hit harder by the recession, because they've experience not just a decline in exports, but also a collapse of domestic demand, as the credit-fueled domestic demand boom of the pre-crisis years came to a sudden end.
"Such countries include Latvia, Bulgaria, Croatia, Estonia, Lithuania, and Romania. In contrast, countries that had the mildest downturn are now seeing the strongest recovery," the report noted.
Romania will continue to experience weak consumption, restraint by poor labor market conditions, low confidence, and the destruction of consumer wealth, the IMF said.
Mediafax