UN Forecasts 5.5% Econ Growth For Romania In ‘08

The United Nations (UN) forecast for 2008 a 5.5% economic growth in Romania, some one percentage point below the level estimated by Romanian authorities, according to a report compiled by the institution.

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UN Forecasts 5.5% Econ Hike For Romania In ‘08

The gross domestic product growth in 2008 will be lower than the one estimated by the UN for 2007, of 6%, according to the "World Economic Situation and Prospects 2008" report.

According to estimations by the Romanian National Forecast Commission, the economic growth in 2008 will be 6.5%, compared to data forecast for 2007, of 6.1%.

The data for the previous year will be published by the National Institute for Statistics (INS) on March 4.

The UN report also states that in 2008, inflation might average 5.8%.

INS data, published late last week, indicated a 4.84% inflation average for 2007, as inflation reached 6.57% at the end of last year.

At the same time, UN experts say that the unemployment rate will remain 7% in Romania, the same level registered in the previous year. The UN calculates data using a method different from the one used by the Romanian National Institute for Statistics.

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