Romanian Central Banker Popa Sees `L-Shaped' Recovery on Austerity Program

Romania’s deputy central bank governor, Cristian Popa, said he sees a ‘L-shaped’ economic recovery because of the government’s austerity measures.

Popa said he doesn’t expect the Romanian economy to have a so-called double-dip recession, in contrast to forecasts from the International Monetary Fund. The IMF has said it expects the economy to grow in the second quarter, then contract again from the third quarter.

Popa’s comments came in an interview on the Money Channel, a business television station in Romania.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net

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