estimate

The Romanian Interior Ministry’s total expenditure might decrease to 1.17% of the gross domestic product in 2013, from 1.7% of GDP in 2010, according to estimates in the country’s three-year fiscal strategy approved by the Government Wednesday.

Banca Comerciala Romana revised up its forecast regarding Romania's economic growth, seeing now a 7.1% contraction in 2009 from previously expected 8%, according to BCR's chief economist Lucian Anghel.

Romania’s third quarter gross domestic product shrank by a seasonally-adjusted 0.7% compared with the earlier quarter, a flash estimate of the National Statistics Institute, or INS, showed Friday.

Local insurers need to adapt their business model to the new economic outlook caused by the financial crisis, which will decrease profit margins and reduce the number of potential clients, the head of CFA Romania, Dragos Cabat, said Tuesday.