Romania Will Miss Budget Gap Target, Because Of Upcoming Elections – Piraeus

They expect the government to run a deficit of 5.5% this year.

Romania’s general consolidated budget registered a deficit of 7.42 billion lei (EUR1.76 billion) at the end of May, 1.36% of the gross domestic product.

Piraeus estimates Romania’s economy will grow by 1.4% in 2011, supported by higher investments and exports, while consumption will have a modest contribution.

The current account deficit will increase to 7.6% by the end of the year, from 4.3% in 2010, because economic recovery will encourage demand for imported goods, says the analysts’ report.

Piraeus Bank’s operations in Romania are Piraeus Bank Romania, Piraeus Leasing and Piraeus Insurance Reinsurance Broker.