Merrill Lynch downgraded Romania's foreign deficit for 2009

Marţi, 28 iulie 2009, 17:23 English | Business

Romania's current account deficit will drop to 3.9% of GDP in 2009, Bank of America Securities - Merrill Lynch experts forecast, quoted by Romanian news agency NewsIn. In 2008, Romania's current account deficit was 12.3% of GDP.

For 2010, analysts forecast that Romania's current account deficit will continue to decrease and will get to 3.3% of GDP. According to the latest data published by Romania's National Central Bank, Romania's balance of payment deficit dropped by 75.5% in the first five months of 2009, as the commercial deficit deepened.

The other estimates were maintained by analysts so that Romania's economy will drop in 2009 and 2010 by 6.4% and 2.5% due to the fiscal adjustments agreed with the IMF. Analysts estimate that Romania's inflation might reach 5.2% in 2009.