Romania's Central Bank Governor Isarescu: 8% economic growth in 2008 and a 3% deficit, without any correction methods

Miercuri, 10 decembrie 2008, 14:01 English | Business

Romania's economic growth might total 8%, Romania's Central Bank governor Mugur Isarescu declared, warning that the budgetary deficit might exceed 3% of GDP in 2009 if correction methods will not be taken, Romanian news agency NewsIn informs.

In the fiRst nine months of the year, the GDP grew by 8.9%, Isarescu declared. However, he added that after the first 11 months of the year, the budgetary deficit was 3%. For 2009, Isarescu estimates a 2% budgetary deficit, considering the government's approved budget.

Isarescu added that the current account deficit remains one of the most important problems of the Romanian economy and is a consequence of the rapid development in the past years. Last year, Romania's current account deficit represented 14% of GDP.