Romanian FDI Seen Rising To EUR5.8B In 2014

The Romanian government estimates foreign direct investments will increase to EUR5.8 billion in 2014, from EUR3.6 billion predicted for this year, according to the draft convergence program for 2011-2014.

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In 2010, FDI inflows fell 25.6% on the year to EUR2.6 billion, covering 54.3% of the country's current account deficit.

FDI inflows should cover nearly 64% of the current account gap in 2011, the government said in the document, which was obtained by MEDIAFAX Thursday.

The executive said the ceiling of state guarantees issued by the Finance Ministry and local authorities will be lowered to around EUR1.46 billion by 2014, from EUR2.44 billion in 2011, to reduce budgetary risks.

Romania's convergence program is subject to annual revisions and will be sent to the European Union pending government approval.

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