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Romania Ctrl Bk Head: Curr Acct Gap Could Widen To 6% Of GDP In ’10

Romania should consider a current account deficit of around 6% of the gross domestic product in 2010, due to the level of structural funds the country plans to attract this year, central bank governor Mugur Isarescu said Thursday.
Romania Ctrl Bk Head: Curr Acct Gap Could Widen To 6% Of GDP In '10
15 apr. 2010, 16:25, English

Speaking at an economic seminar, Isarescu said the data on the current account gap for the first two months of 2010 are not significant and more factors should be considered before making a more definitive statement on the matter.

„I think we might be rushing in, given that the figures are only for two months and they are not significant,” Isarescu said.

Romania’s current account deficit widened 64.3% to EUR754 million in January-February, from EUR459 million the year-earlier period, due to a falling surplus in the current transfers balance, central bank data showed.

In 2009, Romania’s current account gap narrowed 68.7% on the year to EUR5.05 billion, from EUR16.8 billion a year earlier.