GDP loses almost 12bn euros

The National Prognosis Commission (CNP) has deeply revised its economic projections for the 2009-2013 interval, announcing a 4% economy contraction for this year, down from the 2.5% growth rate it had forecast in early 2009. Thus, CNP data point to a 125bn-euro GDP this year, 11.8bn euros lower than the level posted in 2008. The economy will rebound next year, when a weak leap of 0.1% is expected, with 2013 to witness a 4.4% increase. Export forecasts have also become negative, with the new prognosis pointing to a 15% decline. Thus, exporters are due to cash in over 5bn euros less than last year, with the total value of exports to come to 28bn euros. For this year, CNP expects the RON to decline by over 15%, announcing an average rate of 4.25 RON/euro.