Romania issues prognosis change for next year

Romania's prognosis body (CNP) maintained inflation estimates for the end of the year to 5.8 percent, but increased it for the end of next year from 4 to 4.5 percent, according to the preliminary version of the fall prognosis released today.

CNP modified average inflation rate from 7.5 to 7.6 percent in 2008, and from 4.5 to 4.7 percent in 2009. It kept estimates for 2010 – 2013.

CNP estimates a lower average exchange rate for 2008, of 3.53 lei against the single European currency, versus the previous prognosis of 3.55. It changed upwards estimates for the average exchange rate in 2009-2013, but deems the leu will continue to go up to an average rate of 3.30 lei per euro in 2013.

The exchange rate prognosis for 2009 was changed from 3.45 to 3.55 lei per euro. It stood at 3.34 last year, following significant hikes of the national currency during the summer.

Romania's Central Bank's (BNR) most recent prognosis sees inflation at 6.6 percent at the end of the year, but BNR governor Mugur Isarescu has recently said it will revise it downwards.

NewsIn