“Given the positive contribution of the agricultural sector, we estimate a growth of 1.7% this year, compared with 1.5% previously,” CNP’s head Ion Ghizdeanu said.
Nevertheless, the same farming output expected to bolster the economy in 2011 is very likely to limit the next year’s growth, because of the base effect, Ghizdeanu said.
He said financial woes in international markets are also bound to have a negative effect on the 2012 economic growth, slowing it down to around 3% from 4% previously estimated.
However, an official forecast on the 2012 growth will be announced at the end of October, Ghizdeanu added.
“It’s difficult to say how 2012 will be like. Unfortunately, there are signs of a slowdown compared with the initial forecast and we need to be moderate,” he said.