Romania’s BCR Says Inflation Might Exceed Ctrl Bk 8.3% Projection End-March

Analysts with Romania’s largest lender BCR, owned by Austria’s Erste Bank, said in a report that the inflation rate would exceed the central bank’s projection of 8.3% at the end of the first quarter.

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Romania’s average inflation is seen growing in 2008 to 7.6%, from 4.8% at the end of 2007.

BCR also said the 2008 economic growth might exceed 7% this year, compared with 6% in 2007.

"The estimation was made on a high pace of the construction output, a slight acceleration of the industry and a normal agricultural year. The first quarter could be the best quarter of the entire year from the perspective of the economic growth", a BCR report shows.

But BCR economists say uncertainties regarding the weather conditions might influence the economy more than the international financial turmoil.

BCR’s prognosis for this year shows a 6.% increase of the real gross domestic product, and 6% for next year.

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