Romania's economy to grow 3.2% in 2009, World Bank saysPublish date: 09-12-2008
World Bank estimates Romania's economy will advance 3.2 percent next year and the current account deficit will narrow to 8.6 percent of the gross domestic product (GDP).
It also sees an economic growth of 8.6 percent for Romania in 2008, according to the Global Economic Prospects 2009 report published today, and a current account gap of 15.5 percent of the GDP.
The current account deficit stood at 14 percent of the GDP last year.
The World Bank's prognosis for 2009 calculates an external deficit of 8.6 percent of the GDP, following a 3.2 increase in economy. It also estimates a 5.8 percent economic growth in 2010 if the current account gap reduces to 7.4 percent of the GDP.
Romania's Forecast Commission estimates the country's economy will gain 9.1 percent this year, 6 percent next year and 6.3 percent in 2010. The central bank's governor Mugur Isarescu recently estimated an increase between 3 and 6 percent in the GDP next year, but some foreign analysts do not exclude that the country could enter recession in 2009.
CNP calculates in its fall prognosis a current account deficit of 13.2 percent of the GDP this year, which would narrow to 12.2 percent in 2009 and 11.2 percent in 2010.
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