GDP growth to continue beyond 6 pc over 2010-2013

Gross Domestic Product (GDP) growth pace in real terms is to continue to go beyond 6 percent in the period 2010 through 2013, whereas the commercial deficit will be curbed, according to the autumn prognosis of the National Prognosis Commission (CNP).

GDP is to grow in real terms by 6.3 percent in 2010, by 6.2 percent in 2011 and by 6 percent in 2012 and 2013, according to CNP released data.

As well, CNP estimates that 2008 GDP will grow by 9.1 percent, being expected to amount at 505 billion lei and by 6.5 percent in 2009, when it might hit the value of 592.9 billion lei.

At the same time, the commercial deficit will be tempered in the five years to come. If, in 2008, it was estimated at 6 percent of the GDP, for the upcoming years CNP predicts the reduction of the commercial deficit. In 2009, the deficit is estimated at 3.3 percent, in 2010 at 2.6 percent, in 2011 at 2.1 percent, in 2012 at 1.7 percent and in 2013 at 1.5 percent, according to CNP.

Prime Minister Calin Popescu-Tariceanu pointed out on Thursday that investments to be implemented this year are estimated at 170.3 billion lei, the equivalent of 47 billion euros, accounting for 33.7 percent of the GDP.

‘In 2008, public investment is to surge from 6.7 billion to 10 billion euros. With 10 billion euros we reach almost 20 percent investments in overall public expenditure. This is an unprecedented record for Romania and for the European Union. Compared to 2004, investments from public funds increased five-fold in 2008′, stated the Executive’s head.

In his turn, Minister of Economy and Finance Varujan Vosganian added that foreign investments advanced from 7.1 billion euros to 10 billion euros this year.

As for the inflation rate at the year-end, this will follow a downward trend, respectively of 6 percent from 6.6 percent at the end of 2007. The current account deficit is estimated at 13.4 percent and the gross average income from salary to surge 21.9 percent as against 2007, respectively to attain the level of 1,700 lei, the equivalent of 470 euros. AGERPRES