EC Cuts Romania’s 2017 GDP Growth Forecast To 4.3%

The European Commission (EC) has revised downward its forecast on Romania’s 2017 economic growth by 0.1%, to 4.3% from 4.4%, below the Romanian Government’s projection of 5.2%, and kept its GDP growth forecast of 3.7% for 2018, the Commission said in its spring forecast.

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In February, the EC estimated a growth of 4.4% for Romania’s economy in 2017 and of 3.7% in 2018, according to the EC’s report released in February.

For 2017, the general government deficit is expected to reach 3.5% of GDP, the EC’s report also reads.

The European Bank for Reconstruction and Development (EBRD) has raised by 0.3% its economic growth forecast for Romania, to 4% for 2017, according to its latest Regional Economic Prospects report released on Wednesday. The bank also expects Romania’s economy to grow 3.5% in 2018.

In its latest report on the World Economic Outlook, the International Monetary Fund (IMF) estimated Romania’s economy will increase by 4.2% in 2017 and by 3.4% in 2018.

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