Romanian Prognosis Commission Ups ’08 GDP Growth Forecast To 9.1%

Last year, Romania’s economy grew with 6%, compared with 7.9% in 2006.

Romania’s GDP will reach RON505 billion (EUR1=RON3.6690) in 2008, from RON404.7 billion last year, CNP said in its report published on Thursday.

For 2009, CNP forecasts a GDP of RON592.9 billion.

On Wednesday, Romanian Government approved the third budget revision in 2008, which includes a revenue increase of RON6.4 billion and an expenses increase of RON7 billion.

The budget deficit was left unchanged at 2.3%.

Romania reported an economic growth of 8.8% in the first half of the year, driven by 9.3% growth in the second quarter, following a good agricultural year.

The Romanian budget deficit was 0.64% of gross domestic product in the first seven months of 2008, finance ministry data showed, while in the first half of the year, the budget deficit stood at 1.18% of GDP.