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May 13, 2021
ECONOMY FINANCE&BANKING

FinMin Dragu says Romania’s economy will grow 4.5pct on average in coming years

Minister of Public Finance Anca Dragu says Romania’s economy will grow by 4.2pct this year and by 4.5pct on average in 2017, 2018 and 2019, despite the fact that international financial institutions have revised their estimates regarding the growth rate of the Romanian economy in the coming years.

“Romania has a solid economic growth. For this year, we forecast an increase of 4.2pct and for 2017, 2018 and 2019 we estimate an improvement in this indicator at 4.5pct on average per year,” Finance Minister Anca Dragu said on Thursday at the World Credit Congress & Exhibition (WCCE) summit in Bucharest.

According to the latest data published by the National Commission for Economic Projections, Romania’s GDP should grow by 4.2pct in 2016 and advance 4.3pct in 2017 and 4.5pct in 2018.

On the other hand, the international financial institutions have revised their estimates of Romania’s economic growth for 2017 and 2018.

The World Bank has recently downwardly adjusted its estimates of the Romanian economy’s growth in the next two years to 3.7pct and 3.4pct, down 0.4 percentage points and 0.6 percentage points, respectively, from January.

Early this May, the European Commission announced that growth pace of the Romanian economy should slow down in 2017 to 3.7pct.

The IMF also warned that the peak in Romania’s economic growth in 2016 is expected to be followed by a slowdown to 3.6pct in 2017.

 

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