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Intl Oil, Food Prices Rise To Add 0.6 Pp To Romania’s Curr Acct Def To 13.6% Of GDP

The combined rise in prices for oil and food products is seen adding 0.6 percentage points to Romania’s 2008 current account deficit, which is seen at 13.6% of gross domestic product, the IMF said in a report Tuesday.
Intl Oil, Food Prices Rise To Add 0.6 Pp To Romania’s Curr Acct Def To 13.6% Of GDP
01 iul. 2008, 17:16, English

According to IMF estimations, the rise in international crude oil prices would add 0.5 percentage points while food prices would contribute by 0.1 percentage points.

Romania’s current account deficit widened 7.5% on the year in January-April to EUR4.842 billion, from EUR4.504 billion in the year-earlier period, on higher trade deficit.

Last year, Romania’s current account deficit widened 66.1% on the year to EUR16.87 billion from EUR10.15 billion in 2006, mainly due to a larger trade deficit.