Economy

IMF downgrades most Romanian economic forecasts

3 months ago

In its World Economic Outlook for April, the International Monetary Fund (IMF) lowered its estimate for this year’s Romanian economic growth to 3.1 percent from its previous estimate of 3.4 percent last October.

In 2020, the IMF expects a GDP growth of a round three percent. The institution increased its forecast for this year’s inflation in Romania to 3.3 percent compared with the previous estimate of 2.7 percent while for next year it expects an inflation of three percent.

While last autumn it expected this year’s public debt to fall to around 3.4 percent of the GDP, it now sees public debt rising to 5.2 percent and 4.8 percent in 2020.

At the same time, the IMF has also modified downward the growth estimates for the global economy by 0.4 points, the Eurozone by 0.17 points and that of emerging European Union member states by 1.3 percentage points, so Romania is still expected to fare a little better than the average of the regional countries.