Romania Monthly Economic Review - May 2009

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Romania Monthly Economic Review - May 2009

* INS: GDP drops by 6.4% in Q1
* INS: Q1 trade deficit down 54.8%
* The stock of provisions for bad bank loans rises by 35% in Q1
* Industrial production down 13% in Q1
* Retail sales drop by 5.5% y/y in March and 5.2% y/y in Q1
* BNR: The current account of the payment balance – EUR 709 mn deficit in Q1
* Gross external debt drops by 2% ytd to EUR 71.6 bn at the end-March
* Budget deficit widens to 1.76% of GDP
* Romania to register 2% GDP contraction in 2009
* Non-governmental crediting declines in April

Http://www.romlux.org/uploads/20090609RomaniaMonthlyEconomicReview5_2009.pdf