National Prognosis Commission revises upwards to 5.6 pct its economic growth estimate for 2017

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The National Prognosis Commission (CNP) revised upwards its estimate for Romania’s economic growth in 2017, to 5.6 pct from 5.2 pct, as per the previous forecast.

According to this fall’s preliminary projection, the Gross Domestic Product (GDP) will be 837.1 billion RON this year, as to 816.5 billion RON in the spring estimate.

The GDP per capita in 2017 is estimated at 9,392 euro (9,279 euro in the spring projection). This indicator will go up to 10,243 euro in 2018; 11,140 euro in 2019; 12,063 euro in 2020; and in 2021 it will reach 12,994 euro.

The individual consumption per household will grow in 2017 by 7.9 pct (6.8 pct in the previous estimate), and the consumption of the public administration will rise 2 pct (1.6 pct in the previous projection).

CNP maintained the GDP growth projection for 2018, 2019 and 2020 at 5.5 pct, 5.7 pct and 5.7 pct, respectively, whilst for 2021 it estimates an increase of up to 5 pct.