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Current account deficit drops 1.5 percent

Current account deficit dropped by 1.5 percent during the first four months of the year, given a cautious budgetary execution, FinMin Varujan Vosganian told a news conference, on Thursday.

After five months, the budgetary execution was cautious, and the deficit dropped by 1.5 percent during the first four months of 2008, compared to the same time span in 2007,' Vosganian explained, adding that Romania will record a current account deficit of 14-15 percent of GDP, this year. According to the data available so far, Romania's current account deficit will not deteriorate in 2008, Romania's Central Bank (BNR) governor Mugur Isarescu said. The current account deficit will come closer to 14.5 percent of GDP, this year, and it is to dwindle to 13 percent of GDP, next year, International Monetary Fund (IMF) estimates say. On the other hand, the National Prognosis Commission (CNP) expects a current account deficit of 18.2 billion euros, namely 13.6 percent of GDP, this year, lower than the 14 percent last year. CNP forecasts a current account deficit worth 19.7 billion euros (12.5 percent) in 2009 - 21.4 billion euros (minus 11.7 percent) in 2010, 21.98 billion euros (minus 10.6 percent), in 2011, 21.96 billion euros (minus 9.4 percent) in 2012, 21.3 billion euros (minus 8.2 percent) in 2013. Sursa: http://www.rompress.ro

Tags: percent deficit account current euros billion bnr

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