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Monday, October 25, 2004

Romanian's account deficit rising

According to the latest data released by the central bank (BNR), Romania’s current account deficit rose 46.4 percent to EUR 2.1 billion over January - August against the same period last year, accounting for a worrying 6.6 percent of the GDP considering the 5.5 percent ceiling established with the IMF. Increasing concern is related to a recent S&P statement according to which a further deterioration of the Romania’s current account gap might result in a downgrade. The deterioration is mainly grounded on the increasing trade balance stemming from strong domestic consumption, which is to further increase to the end of the year considering the usual booming imports of household goods.

Posted by Mihai : 10/25/2004 11:50:00 am