CFA Romania Association

The national currency has depreciated on Thursday compared to the euro, continuing, practically, its descending trend started last week, the internal political situation having no influence on the exchange rate, believes Adrian Codirlasu, deputy chair of the CFA Romania Association. "The course depreciated a little. Practically it continued the depreciation trend started last week.

Financial analysts project a 5.8 percent growth rate for Romania's economy this year and a budget deficit of 6.2 percent of GDP, while the time horizon for Romania's joining the eurozone is 2030, Romania's chartered financial analysts association CFA Romania said in a release on Monday.

Financial analysts anticipate this year's budget deficit will be 6.4 percent of GDP and the inflation rate over a 12-month time horizon, respectively June 2022 - June 2021, to be 3.75 percent, Romania's chartered financial analysts association CFA Romania said in a release. At the same time, none of the survey participants predicts a decrease in the inflation rate in the next 12 months.

Romania's switching to the European single currency, the euro, is likely to be postponed until 2030 due to the ongoing coronavirus crisis, Dragos Cabat, a member on the CFA Society Romania board, said on Tuesday, noting that there should be a decision at the political level to attempt to try to enter at least the Eurozone antechamber and meet the Maastricht conditions again.

The Macroeconomic Confidence Indicator of the CFA Romania Association decreased in October compared to the previous month by 2.3 points, to the value of 32.1 points, according to a release sent to AGERPRES on Monday. Compared to the same month of the previous year, the indicator decreased by 22.4 points, according to CFA Romania.

CFA Romania analysts estimate a depreciation of the (national currency) leu in the coming months, an average inflation rate of 3.82 percent in October 2020 and an increase in Romania's risk premium.