Ctrl Bker: Foreign Curr Transfers From Romanians Abroad To Shrink

"It is true that some investments have been postponed, but their level is still high (…) Even though the funds for real estate developments started to decline, the local investments will also slow down, and, thus, the foreign debt contracted by the local investors will be lower," Dijmarescu said, during a seminar organized by Euromoney in Thessaloniki.

The central bank official estimates that the current account deficit will stay at 13.5%-13.7% of the gross domestic product at the end of the year, lower compared with 14% of GDP in 2007.

Dijmarescu said the current account deficit will continue to decline as a percentage in the GDP, on a good performance of exports, which reflects a productivity growth due to the last years’ foreign investments.

As regards the consumer price inflation, the central banker reiterated that the central bank’s forecast indicates the inflation rate will stay below 7% at yearend.