“Had Romania’s agriculture production been within usual parameters this year, the economic growth would have reached around 1.1%. However, given the current circumstances, we expect growth to be at 0.7%,” BCR analyst Eugen Sinca told a news conference.
Sinca said BCR’s new estimate on the 2012 growth also considers a slight recession forecast for the eurozone area. The 17 eurozone nations are likely to end the 2012 year with an average economic contraction of 0.2%, he added.
For 2013, BCR forecasts an economic growth of 1.9%, down from an advance of 2.9% initially envisaged.