September 25 (SeeNews) - Romania's National Prognoses Commission, CNP, said it sees the country's economy contracting by 7.7% this year in real terms and returning to a slim growth of 0.5% in 2010.
The CNP also expects the country's end-year consumer price inflation to slow to 4.3% in 2009 and 3.5% in 2010 from 6.3% in 2008, the team of economic experts that advise the government said in its preliminary autumn bulletin, posted on its website.
CNP projects Romania's 2009 current account gap at 4.6% of gross domestic product (GDP), compared to last year's 12.3% of GDP. The commission sees the leu currency's average exchange rate at 4.25 lei per euro in 2009 and 4.20 in 2010, compared to 3.6827 in 2008. The unemployment rate is seen at 7.6% this year and at 6.2% in 2010, up from 4.4% in 2008.
In May, the CNP said it sees Romania’s economy contracting by 4.0% this year and posting a growth of 0.1% in 2010. It said it expects the end-year consumer price inflation to slow to 4.5% in 2009 and to 3.5% in 2010. It also forecast the 2009 current account gap at 7.5% of GDP.
Romania's economy grew by 6.0% in 2007 and by 7.1% in 2008.
The CNP releases two macroeconomic forecasts a year, in the spring and in the autumn.