Romania’s Fin Min: Curr Acct Gap Dn To 13.5% Of GDP In ’08

“In 2009, exports will grow by 17-18%, while imports will rise by 12%. Next year, exports are seen rising by 5-6 percentage points over imports as well, and that will trigger a current account deficit of 12% of GDP,” Vosganian said at "Romania Construct & Real Estate Forum 2008”, organized by Mediafax news agency.

Vosganian said Romania targets a current account deficit of below 10% of GDP by 2012.

Romania’s current account deficit rose 11.9% after the first seven months of the year to EUR9.4 billion, due mainly to a higher trade deficit.

Romania’s Prognosis Commission estimates the country’s current account deficit will fall to 13.4% of GDP this year, from 14% of GDP in 2007.