1.7 – 1.9% of GDP decrease in 2010 in Romania

BUCHAREST (Romania), July 30 – The International Monetary Fund (IMF) is expected to revise its forecast for the 2010 contraction of Romania’s Gross Domestic Product (GDP) to 1.7%-1.9% from the 0.5% projected earlier.


The exact figure is yet to be determined by the IMF and the Romanian authorities.


Financial Minister Vladescu said that the current budget deficit target of 6.8% of GDP in 2010 agreed under a stand-by arrangement with the IMF will not be changed.


The IMF started on Monday the fifth review of Romania’s reform performance under a 20 billion euro ($26.1 billion) stand-by loan deal with the fund and other international donors.


(USD=0.7667 EUR)

Source: Economic Daily