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Merrill Lynch: Romania's current account deficit to reach 5% in 2009

de A.C.     HotNews.ro
Marţi, 16 iunie 2009, 18:00 English | Business

Romania's current account deficit will reach 5% in 2009 and not 8% as initial estimates pointed out, according to an official forecast published on Tuesday by the Merrill Lynch Bank of America Securities report, NewsIn informs. For 2010 analysts count on a current account deficit of 4.1% of GDP, a 6.5% drop compared to initial forecasts.

However, Romania's economy will drop significantly in 2009 and 2010, by 6.4% and 2.5% due to fiscal adjustments in the IMF agreement. Merrill Lynch analysts consider that inflation rates will exceed this year the estimation put forward by the Romanian Central Bank of 3.5% due to external pressures and depreciation of the national currency.

Romania's inflation could reach 5.2% in 2009, and 4% in 2010 compared to 6.3% in the end of 2008. The Romanian currency will depreciate to 4.5 lei/euro by the end of the year and afterwards will register a slight appreciation to reach 4 lei/euro in 2010.  























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