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August 14, 2022
BUSINESS

After EC, World Bank also estimates higher growth for Romanian economy

  • WB revised upward, to 3 pc, Romania’s GDP growth in 2015

 

The World Bank revised upward, from 2.9 per cent in January to 3 per cent, its estimates concerning the growth of the Romanian economy this year, according to the Global Economic Prospects report published on Wednesday by the international financial institution.

Even so, in the future report the WB will probably have to raise its sights again. And that is because Eurostat has published a GDP growth of 4.3 per cent as gross series and 4.2 per cent as adjusted series in Q1 of this year.

The World Bank left unchanged its forecasts for 2016, when Romania is expected to register an economic growth of 3.2 per cent, and it even revised downward its estimates for 2017, from 3.9 to 3.5 per cent.

At regional level, the World Bank estimates that the Emerging Europe and Central Asia region (in which Romania is included) will register a slowdown in its economic growth rhythm, from 2.4 per cent in 2014 to 1.8 per cent in 2015. In what concerns regional risks, the World Bank considers that they consist of a new drop in the price of oil, the escalation of geopolitical tensions and a sudden worsening of global financial conditions. Added to all this is a lower-than-expected global economic recovery and an unfavourable solution to the problems between Greece and its creditors.

In Romania the budget for 2015 is based on an economic growth of 2.5 per cent and the GDP is estimated at RON 709.681 bln. In Q1 the GDP grew by 4.3 per cent year-on-year.

In early May the European Commission slightly improved its estimates on Romania’s economic growth in 2015, from 2.7 per cent in its February forecast to 2.8 per cent.

 

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