Foreign analysts put this year's foreign investments at 7.2bn euros

Romania is going to attract foreign direct investments worth approximately 9.5bn dollars (7.2bn euros) this year, believe the analysts of 12 foreign financial and research institutions, which responded to a poll conducted by Consensus Economics organisation. The 7.2bn-euro investments are likely to represent the second highest value ever, after a record high of 9.1bn euros was reached last year. The analysts that participated in the poll believe the same investment trend will be maintained into 2008, when they expect capital inflows of 9.4bn dollars (7bn euros) to be registered. During the middle of this year, the volume of foreign investments drawn by Romania stood at 2.96bn euros, still below the level of investments posted in the first half of last year. In addition, analysts from the 12 institutions are increasingly worried about the accelerated increase in the current account deficit, which gauges net foreign currency outflows. Thus, the average estimate of Consensus Economics for this year’s foreign deficit indicates 18.9bn dollars (14.4bn euros, namely 12.2% of the GDP). During the middle of this year, the current account deficit had already reached 7.8bn euros, double the level registered in H1, 2006.