Wednesday, April 9, 2008

Romania aims to cut inflation to 3 pct by 2010 - central bank

PRAGUE (Thomson Financial) - The deputy governor of Romania's central bank said the country aims to lower inflation to at least 3 percent by 2010 as it prepares for euro adoption.

'We want to see inflation at 3 percent, possibly lower, by 2010,' said Cristian Popa at a conference in Prague.

Popa said a falling fiscal deficit in the eastern European country was positive news, but that more constraint was needed.

The country is slated to join the ERM-2 in 2012.

Romania's annual inflation was 7.97 pct in February, its highest level since March 2006.

At the end of February, central bank governor Mugur Isarescu said Romania's planned adoption of the euro in 2014 will not be possible 'if inflation does not fall in a sustainable way in 2008 and 2009.'

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