Adevarul, 13 November 2009

Romania goes deeper into recession

Published on 13 November 2009
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."

Do you like our work?

 

Help multilingual European journalism to thrive, without ads or paywalls. Your one-off or regular support will keep our newsroom independent. Thank you!

 

SUPPORT

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

Support border-free European journalism

Donate to bolster our independence

Related articles