Ups, we did it again!

According to National Statistics Institute, in 2007 Romania’s trade deficit deepened to more than 21.5 billion euro, this means 44.3% increase compared to 2006. During this period, the total value of exports grew by 13.7%, while imports increased with 24.9%.

One of the reasons seems to be the goods temporarily introduced in duty frees and customs and also the introduction of the general commercial system for intra-communitarian goods (Intrastat). In this systems the goods are registered only at the moment when they pass the frontier, and not when they circulate within the free area, as before in the Extrastat National Statistics Institutecommercial system.

The European Comission reacted promplty, criticizing the Romanian government’s budget strategy and gave us some recommendations. Which will problably not be followed, since we have an election year ahead of us.