The current forecast regarding the evolution of the economy, of minus 7.7 percent, is better, considering that the government and the International Monetary Fund (IMF) foresaw an 8-8.5 percent drop in gross domestic product (GDP). On the other hand, some indicators have worsened. The current estimate for the unemployment rate is 7.6 percent (corresponding to 685,000 unemployed), compared to 6.8 percent forecast by CNP this spring.
The economy is to resume its upward trend in the second quarter of 2010, according to CNP, and will register an increase compared to the corresponding period in 2009 in the third quarter of 2010, with a 0.8 percent rise. For the whole of 2010, the economic growth forecast is 0.5 percent, 2.4 percent for 2011, 3.7 percent in 2012, 4.4 percent in 2013, and 5.2 percent in 2014.
Moreover, Romania’s current account deficit will narrow this year to 4.6 percent of GDP, from 12.3 percent last year. In nominal terms, the current account will register a deficit of €5.38 billion, three times lower year-on-year.
