Economic crisis
Adevarul, 13 November 2009

Romania goes deeper into recession

Published on 13 November 2009 at 13:11
Adevarul, 13 November 2009

Cover

On its front page, Adevărul announces "Eastern Europe emerges from downturn, but Romania will have to wait." The daily explains that "while neighbouring countries have been careful to control the injection of new blood into their economies, the Romanian government, which made the mistake of prompting a credit explosion, is now attempting to restore its image with populist decisions that are continuing to add to the budget deficit." In the run-up to presidential elections, scheduled for 22 November, Romania's GDP fell by 9% in the third quarter, which makes it "the only country in the EU to register an intensification of the recession." Its neighbours in the region fared considerably better: in the course of the same quarter, the Czech Republic's GDP shrank by 4.7%, Hungary's was down by 6.6% and it is likely that Slovakia's fell by 5%, while Poland "has not even had a recession!" For Adevărul, the difference in performance is in part explained by the fact that "Other states in Eastern Europe have done more to feed the Western appetite for imports."

Tags

Was this article useful? If so we are delighted!

It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.

Discover our subscription offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic