Isarescu: Romania should consider a 6-pc current-account deficit

Romania’s current-account deficit could reach 6 percent in 2010, Governor of the National Bank of Romania (BNR) Mugur Isarescu told a conference on competitiveness on Thursday.

‘As far as the current-account deficit is concerned, BNR once voiced its opinion, an estimate, and that was, given the size of the European funds, Romania will have to consider a 6-percebnt current-account deficit,’ Isarescu said in relation to the 2010 deficit. Romania’s quitrent-account deficit in the first two months of 2010 stood at 754 million euros, up 64.3 percent from the first two months of 2009.

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Coface rating agency is expecting Romania‘s current-account deficit to reach 10.4 percent of the Gross Domestic Product (GDP) in 2010, compared with 9.5 percent in 2009. The National Statistics Institute (INS) has included in its 2009-2014 autumn projections an estimate for the current-account deficit of 6.27 billion euros, or 5.1 percent of the GDP.

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