“We estimate a 2.9 pct. growth of the Gross Domestic Product (GDP) this years – a reiteration of a very good performance if one looks at it in the light of the last years and in the region’s current picture, too. In addition, the economic growth of 2014 has a much wealthier structure, this year the economic increase was not determined exclusively by the external demand, which gives confidence that the economic return should continue in a sustainable rhythm,” the ING Bank Romania chief-economist, Vlad Muscalu told Agerpres.
In their turn, the UniCredit Bank economists estimate at 2.7 pct. economic growth, sustaining that it has a more generalised character than the 2013 increase.
“If in 2013, the 3.5 pct. economic growth was concentrated on exports and self-consumption (generated by a record agricultural output), the 2014 economic growth has had a more generalised character. This statement is backed by the private consumption’s significant return, concomitantly with maintaining the net exports’ positive contribution (although in significant fall). The farming year was similar to 2013, but in increase terms, the contribution of this sector going almost to zero (as compared to over 1 pct. in 2013). Yet, the most painful aspect stays the investments evolution, which decreased for a second year in a row and even more in 2014 (the public investments’ cut was joined by a deterioration of the private investments). The economic growth is estimated at 2.7 pct. in 2014,” the UniCredit Tiriac Bank chief-economist, Catalina Molnar, told Agerpres.
Likewise, Catalina Molnar believes that the reforms’ lagging and the unbalanced budget execution have generated a negative tax boost on the 2014 economic growth.