“I do not believe that Romania took any anti-crisis measures this year. Next year will be very difficult. The recession will continue. I expect slight growth in 2011,” Burci said.
According to the official, the effects of the crisis in European countries will be much more visible next year. However, Romania is in a more delicate state than the rest of the European countries, because the unnecessary costs have not been “cut fast enough.” Thus, Romania’s economy will slide some 10 percent this year, Burci said.
International Railway Systems ended the first eight months of this year with revenues worth €204.8 million, up 12 percent year-on-year. This result was influenced by the difficult economic climate, and the fact that production declined. The businessman told Business Standard that he even considered applying a cost-cutting program at the group level, which includes layoffs.
