Romania Revises Dn GDP Forecast To RON497.3B – Fin Min

Romania has revised its forecast on the gross domestic product growth to 497.3 billion lei (EUR1-RON 4.2088) from RON531 billion, based on an economic contraction of 8%-8.5% in 2009, Finance Minister Gheorghe Pogea said Tuesday.

5 views

The fresh estimation on Romania’s economic decline was presented Monday by a mission of the International Monetary Fund, and it is double from the initial prediction of a 4.1% economic contraction in 2009.

In addition, the IMF said it will allow Romania to run a higher budget deficit of 7.3% of the gross domestic product, well above the 4.6% cap agreed in the spring.

Romania’s inflation is expected to reach 4.3% this year, lower than IMF’s 4.5% forecast in March.

Romanian consumer price index showed a 0.07 percentage point decline on the month in July on lower food prices, bringing the annual inflation to 5.06%, the National Statistics Institute said Tuesday.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.