Romanian PM: Inflation rate to stay below 4% this year

Food

Romania will witness an inflation of under 4% in 2007 - the smallest rate in the country ever, Romanian PM Calin Popescu Tariceanu said at the annual reunion of Romanian Diplomacy representatives on Monday.

According to the latest data delivered by the National Statistics Institute, the annual inflation rate stood at 3.80% in June this year. Former Finance minister Ionut Popescu agrees with the Prime Minister. He told HotNews.ro that he believed the prognosis made by the Tariceanu was based on prior forecasts including that of the NSI, which he said he agreed with.

National Romanian Bank (BNR) downgraded the inflation target for 2007. Last year, the inflation rate stood at 4.87%, and it fit perfectly to the goal set by BNR of 5% +/- 1%. Initially, BNR set an inflation of 4% +/-1% for this year. After the Q1 of the year, the central bank downgraded the initial forecast because prices grew by 0.66%, less than the initial forecast. Thus, the bank presented on May 4 a forecast of 3.7%. (hotnews.ro)

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.