Growth, Inflation and Unemployment Dynamics
160.0
10.0% 8.0%
124.7 115.9
120.0 97.8
100.0
70.0%
10.0% 8.6%
139.8 140.0
4.0%
79.8
60.0%
6.0% 50.0%
9.0%
8.1% 7.3%
7.1%
59.1%
7.2%
7.1%
6.8%
7.3%
6.9%
6.4%
2.0%
40.0%
0.0%
30.0%
6.0%
45.8% 45.7%
80.0
5.0% 61.1
60.0 40.0
8.0% 7.0%
5.8%
37.4
40.7
33.8
52.6
48.6
45.4
3.0%
20.0%
22.5%
-4.0% -6.0% -8.0%
0.0 1999
2000
2001
4.0%
-2.0%
20.0
1998
34.5%
2002
2003
2004
GDP, Bil €
2005
2006
2007
2008
10.0%
2.0% 15.3%
11.9%
0.0%
2009
1998
1999
2000
2001
Real GDP yoy %
2002
2003
2004
Unemployment
1.0% 9.1% 2005
6.6% 2006
4.9% 2007
7.9% 2008
5.6% 2009
0.0%
HICP Inflation
Government Budget Dynamics
2.0
0.0% 0.3
0.2
0.2
0.1
0.1
0.0 0.0
-0.3 -2.0
-1.2
-1.5
-1.6
-1.9
52.5 50.0
0.0 -0.9
-0.7
-0.8
-1.0
60.0
-1.0% 44.9 41.8
-2.0% -1.3 -2.1
-4.0
-3.0%
-2.2 -3.1
40.0 26.7 25.8
30.0 -5.0% -6.0%
-6.5 -7.6
-8.0
-7.9
20.0 13.2 12.0
-7.0%
13.2 11.7
17.6 16.8
17.0 16.0
16.3 15.6 14.7 13.7
20.5 19.7
10.0
-10.0
-8.0%
-9.6
-9.0%
-12.0 1998
1999
2000
2001
2002
Budget Balance, Bil €
2003
2004
2005
2006
Budget Primary Balance, Bil €
2007
2008
37.2
34.5 32.4
-4.0%
-6.0
46.8
44.9
0.7
1.4
0.6
1.8
1.6
1.2
1.8
5.0
3.1
7.1
7.7
6.3
0.0
2009
1998
1999
Budget Balance, % GDP
2000
2001
2002
Budget Revenue, Bil €
2003
2004
2005
Budget Expenditure, Bil €
2006
2007
2008
2009
Fixed Investment, Bil €
Government Debt Dynamics
30.0
30.0%
27.5
IMF, WB, EU financing
25.0
24.1% 25.0%
20.0
17.0
15.0
10.9
10.0 5.0
15.0%
1.6
1.6
1.2
0.9
0.8
0.9
-1.2
12.9%
11.6% 12.2%
1.7
1.0
0.9
0.8
5.0%
0.0 -5.0
15.5% 13.0%
10.0% 1.7
1.5
20.0%
14.5
12.6
12.4
11.8
10.3
19.6% 19.3%
7.5
6.5
4.9
10.8
23.7%
22.1%
19.3% 18.5%
-1.5
-1.0
-1.6
-1.9
-0.8
-0.7
-1.0
-2.2
0.0%
-3.1
-10.0
-5.0%
-7.5
-9.6
-15.0
-3.2%
-4.4%
-4.7%
1999
2000
-3.5%
-2.0%
-1.5%
-1.2%
-1.2%
-2.2%
-2.5%
2002
2003
2004
2005
2006
2007
-5.4%
-10.0% 1998
1999
2000
2001
2002
Gross Debt, Bil €
2003
2004
2005
Net Borrowing/Lending, Bil €
2006
2007
2008
2009
1998
Prim-Sec Balanc, Bil €
2001
Net Borrowing/Lending, % GDP
2008
-8.3% 2009
Gross Debt, % GDP
External Balance Dynamics
0.0
70 60.8 60
53.9
50
43.3
40
34.5
30 20 10.9 9.4
0.0%
-2.0
-1.5
-4.0 43.1
42.5 36.5
-2.0%
-2.2 -3.5
-2.7 -4.0%
-3.9
-6.0
-5.5
-8.0
36.2
31.6
-6.9 -8.1
-10.0
27.4 26.4 22.2 21.9 19.9 18.3 18.4 17.2 15.5 15.0 13.3
-12.0
-8.0% -10.0%
-11.7
-14.0 -12.0% -16.0
10
-14.0%
-18.0
-17.3
-20.0
0 1998
1999
2000
2001
2002
2003
Exports, Bil €
2004
2005
2006
2007
2008
2009
Imports, Bil €
4.5 4.2373
40%
4 3.6827
30%
3.5
20%
3
10%
2.5
0%
2
-10%
1.5 -15% 1
-20% -29%
-30% -40%
0.5 0
1999
2000
2001
2002
Exports, yoy %
Source: Eurostat, National Bank of Romania
2003
2004
Imports, yoy %
2005
1998
1999
2000
2001
2002
2003
External Balance, Bil €
50%
1998
-6.0%
2006
2007
2008
EURRON, yearly average
2009
2004
2005
2006
2007
External Balance, % GDP
-18.2 2008
-16.0% 2009