U.S. Citigroup Sees Romania's 2009 GDP Growth Slowing Down to 2.8% from Projected 7.8% in 2008

The projected figures are contained in a Citigroup report entitled, Prospects for Financial Markets 2009.

Following are details from the report regarding Romania's expected performance:

Romania's GDP grew by a real 9.1% on the year in the third quarter and was up by a real 8.9% in the first nine months of 2008, the country's statistics office, INS, has said.

Romania’s strong GDP growth so far this year was boosted by good harvest, a rise in consumption and a boom in the construction sector. Analysts have said the economy of the EU member is expected to lose momentum next year, held back by poor performance in industry, constructions and exports.

The country's GDP rose by 6.0% last year, a setback from the 7.9% expansion in 2006, due to the severe drought that hit the country in the summer.