Romania Revises Dn GDP Forecast To RON497.3B – Fin Min

The fresh estimation on Romania’s economic decline was presented Monday by a mission of the International Monetary Fund, and it is double from the initial prediction of a 4.1% economic contraction in 2009.

In addition, the IMF said it will allow Romania to run a higher budget deficit of 7.3% of the gross domestic product, well above the 4.6% cap agreed in the spring.

Romania’s inflation is expected to reach 4.3% this year, lower than IMF’s 4.5% forecast in March.

Romanian consumer price index showed a 0.07 percentage point decline on the month in July on lower food prices, bringing the annual inflation to 5.06%, the National Statistics Institute said Tuesday.