The budget deficit will amount to 3 percent of gross domestic product (GDP) this year, according to a report released by Raiffeisen Bank Romania.
The lender’s analysts foresee a deficit worth 2.5 percent in 2009.

Romania could be sanctioned by the European Commission if its budget deficit reaches the 3 percent threshold, the maximum level admitted by the European Union’s Stability Pact.

Raiffeisen analysts estimate that Romania’s GDP will register 6.5 percent growth in 2008 and 5.5 percent growth in 2009. Earlier this week, the International Monetary Fund (FMI) said that economic growth is likely to amount to 5.4 percent this year and 4.7 percent in 2009.

UniCredit analysts also foresee economic growth below 6 percent, at 5.5 percent in 2008 and 5 percent in 2009. However, other analysts are more optimistic about the GDP advance. According to Romania’s largest lender, Banca Comerciala Romana, economic growth could be as much as 7 percent in 2008, in a best-case scenario, and above 6 percent in a basic scenario.