Coface estimates economic growth of 7.8% in Romania in 2008

Romania is to record an economic growth in 2008 of 7.8%, following that in 2009 to reach an increase in its economy by 5.2%, according to estimates of Coface Romania.
Coface forecasted an inflation standing at 8% in 2008 and at 6.2% in 2009.
According to Coface Romania, the current account deficit is to reach approximately 31 billion dollars (minus 14% of the country’s Gross Domestic Product – GDP) in 2008 and 30.9 billion dollars in 2009 (minus 13% of the GDP).
Exports late in 2008 will reach 57.6 billion dollars, following to reach 69.1 billion dollars in 2009.
On the other hand, imports will exceed 92.9 billion dollars in 2008, and are expected to hit a growth of up to 107.7 billion dollars in 2009. In this context, according to estimates by Coface Romania, the trade balance is to come to minus 35.43 billion dollars in 2008 and to minus 38.7 billion dollars next year.
The external debt is to represent 53.5% of the GDP in 2008 and 54.7% of the GDP in 2009. The debt service is to represent 10.6% of the exports in 2008 and 10.3% respectively in 2009, with the hard currency reserves (in months of imports) to stand at 4.4% in 2008 and 4.2 in 2009.
Coface Romania estimates an unemployment rate of 3.6% in 2008 and of 3.2% in 2009. Coface Romania is the local branch of French rating agency Coface.
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