Current account deficit to drop to 4.6 pct of GDP in 2009 (CNP)

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Romania’s current account deficit is to drop in 2009 to 4.6 percent of the Gross Domestic Product (GDP) compared to 12.3 percent in 2008, according the the preliminary autumn outlook of the National Prognosis Commission (CNP).

In terms of volume, the current account deficit is to decline from 16.897 billion euros in 2008 to 5.38 billion euros in 2009.
For 2010, the current account deficit is estimated to account for 4.8 percent of the GDP or 6.02 billion euros, in 2011 – 4.7 percent of the GDP or 6.35 billion euros and in 2014 it is estimated at 4.2 percent of the GDP or 7.65 billion euros.

According to CNP, the trade balance deficit is to be adjusted in 2009 to 8.6 billion euros (FOB exports – CIF imports) as against 22.7 billion euros in 2008. FOB exports are estimated to drop in 2009 by 15 percent and CIF imports to go down by 34 percent.

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