FinMin Pogea: 2009 GDP is projected at RON 497.3 billion

Romania’s Gross Domestic Product (GDP) has been downwardly adjusted to RON 497.3 billion (nearly 118.4 billion euros) from a previous RON 531.25 billion (nearly 126.5 billion euros), as initially approved under the stand-by financial arrangement with the international Monetary Fund (IMF), Finance Minister Gheorghe Pogea reported on Tuesday.

He added that the GDP is expected to record an 8-8.5-percent contraction in real terms, and annual inflation should record an average value of 4.3 percent. The current-account deficit was set at 5.5 percent.

Public Finance Minister Pogea unveiled on Tuesday the conclusions of a recent reviewing mission of the International Monetary Fund.
An IMF mission headed by Jeffery Franks was in Bucharest July 29 – August 10 to assess Romania having met its macroeconomic targets established under a stand-by arrangement so that a second tranche, of nearly 1.9 billion euros of the stand-by loan, may be disbursed.

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