UniCredit estimates GDP will increase by 5.8% in Q3

The group's estimate is much lower than the 8.3 percent economic growth registered in July-September 2006. The 2007 forecast in terms of GDP increase is 5.8 percent, below the 7.7 percent in 2006, due to the negative impact of agriculture in terms of gross added value in industry, of over 18 percent, and a slowdown of the industrial output growth rate to a mere 6 percent.

The service and construction sectors will boost this year's economic growth. International Monetary Fund (IMF) experts have estimated that Romania's economic growth will reach 6.3 percent in 2007, and slow to 6 percent in 2008. The IMF forecast is more optimistic than that by the National Prognosis Commission, of a mere 6.1 percent in 2007.

Estimates by UniCredit specialists in terms of inflation indicate a 4.7 percent level for the average price rise in 2007, and 5.9 percent for December. In its latest report on inflation, presented at the beginning of November, the central bank revised upward the forecast for year-end 2007 by 1.8 points, up to an annual 5.7 percent, from the 3.9 percent level estimated in August.