Vosganian: Current account gap down to 13.5% of GDP In 2008

Romania's current account deficit will narrow to 13.5% of gross domestic product, or GDP, and exports will grow at a higher pace than imports in 2009 when the current account deficit will slow to 12% of GDP, Economy and Finance Minister Varujan Vosganian said on Tuesday.

"In 2009, exports will grow by 17-18%, while imports will rise by 12%. Next year, exports are seen rising by 5-6 percentage points over imports as well, and that will trigger a current account deficit of 12% of GDP," Vosganian said.

Romania's current account deficit rose 11.9% after the first seven months of the year to 9.4 billion euro, due mainly to a higher trade deficit.

Romania's Prognosis Commission estimates the country's current account deficit will fall to 13.4% of GDP this year, from 14% of GDP in 2007.