Coface: Romanian economy, back to 2008 level only in 2014

Romania’s economy could reach its 2008 peak level only in 2014, if all things go smoothly and the country won't enter recession again, said Cristian Ionescu, country cluster manager of Coface România, Bulgaria and Slovakia.

“At the end of 2011, we will get back to where we were between 2006 and 2007. After 2011, we will reach a level above 2006, but below the GDP in 2007. The comeback to the 2008 level will be only in 2014, if all goes normally and there will be no recession,” said Ionescu. “There are signs of improvement in the economy, that are visible in what concerns the companies' payment behavior. The amounts refused from payment for debit instruments went down by 35 percent in the first sight months of 2011, The lack of demand is a strong reason to worry, and the perspectives are not rosy,” said Cristian Ionescu. editor@romania-insider.com (photo source: Sxc.hu)