An International Monetary Fund official has revised down Romania's economic growth forecast for 2012 because of economic difficulties in Europe.
Jeffrey Franks says Monday the country's economy should grow by 1.8 to 2.3 percent next year if consumer spending increases and Romania absorbs more European Union funds.
The IMF had previously forecast growth of up to 4 percent.
In 2009, Romania took a two-year (EURO)20 billion (US$27.5 billion) loan from the IMF, the EU and the World Bank, as its economy shrank by 7.1 percent. Romania imposed harsh austerity measures under the agreement, reducing public wages by one-fourth and increasing sales tax by five percent.