CNP lowers economic growth forecast

For 2008, the GDP estimate was maintained at RON 505 billion (€137.6 billion) and economic growth at 9.1 percent.

Furthermore, this year’s current account deficit is to amount to only 13.2 percent of GDP, compared to the 13.4 percent expected according to the earlier prognosis, due to lower imports and a rise in exports. In terms of value, the deficit is to amount to €18.13 billion.

Inflation is to amount to 6 percent by the end of 2008, higher than the previous forecast of 5.8 percent. The average inflation for 2008 is to amount to 7.7 percent, due to a 9.04 percent peak this July. Next year, average inflation is to amount to 4.8 percent, according to CNP, 0.1 percentage points higher than an earlier estimate.