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June 30, 2022

Economic projection board affirms Romania’s 2017 growth estimate at 5.2pct

The National Prognosis Commission (CNP) has affirmed at 5.2 percent Romania’s 2017 economic growth projection, which is a 0.15-percent nominal increase from its previous forecast at 816.5 billion lei, according to the CNP spring 2017 medium-term forecasts 2017-2020.

CNP’s real economic growth rate forecast for 2018 is set at 5.5 percent

The board is also expecting household consumption to decline from 7.3 percent in 2016 to 6.8 percent in 2017, and administration consumption from 3.3 percent to 1.6 percent.

As far as private investment is concerned, it should advance 6.9 percent from minus -3.3 percent in 2016. In its winter forecasts, CNP was expecting private investment to increase by 6.3 percent in 2016 and by 7.2 percent in 2017.

As far as the trade balance is concerned, CNP has affirmed at over 11.55 billion euros the deficit.

The International Monetary Fund (IMF) has upwardly adjusted, from 3.8 percent to 4.2 percent, its estimates of Romania’s economic growth in 2017, according to IMF’s latest “World Economic Outlook” published on Tuesday.

Likewise, the IMF slightly improves its estimates of Romania’s economic growth in 2018, from 3.3 percent to 3.4 percent.

According to the same IMF document, Romania should record the second largest economic growth in Europe in 2017, outperformed only by Iceland (5.7 percent). Overall, Europe should record economic growth of 2 percent, while emerging Europe’s economy, where Romania is included, should advance 3 percent.

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