The economy will have a strong contraction this year, but the recovery will start in the third quarter and everyone agrees that in 2021 we will have a strong growth, of 4% – 5%, said on Wednesday evening, the Minister of Finance, Florin Cîţu.

“I am optimistic, but rational and moderate. The economy, yes, is going through a difficult period. This year we will have a contraction of the economy, but the recovery will be just as strong and will start in the third quarter this year. (… ) Everyone sees a V return for Romania. The problem is different: how much the economy is falling. I tell you that in the first quarter I think Romania will be the only one in Europe or among the few that will show very good results. We have consumption in March, increases by 8% in retail,” the finance minister told B1 TV.

He stressed that he has some problems with the European Commission’s estimates, which claim that the economy’s 6% decline forecast comes after it estimates that investment will be reduced by 15% this year.

“Totally wrong. We didn’t cut any investment, on the contrary, we increased them. Again, the European Commission sees a decrease in consumption. I don’t think that will happen. On the contrary, we also helped through technical unemployment, we made sure that the purchasing power does not decrease. (…) There are some problems there in the estimate. But, of course, they belong to the Commission and someone is looking at them and we have to explain them,” said Florin Cîţu, quoted of Agerpres.