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In Romania, the growth setback following last year’s bumper harvest and export boom seems to be more severe than expected. The decline in investments, both private and public, has accelerated. Alongside exports, the recovery of private consumption, benefiting from fiscal support, has become the new driver of economic growth. The government intends to continue down this track in defiance of IMF recommendations. Improved political stability under a new president to be elected in November may improve the efficiency of the country’s administration. Being one of the countries least dependent on trade with Russia, Romania lends full support to EU sanctions.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||20148||20058||19981||.||.||.|
|GDP, real change in %||1.1||0.6||3.4||2.2||2.7||3.0|
|GDP per capita (EUR at PPP)||13100||13800||14100||.||.||.|
|Gross industrial production, real change in %||7.4||2.4||7.8||.||.||.|
|Unemployment rate - LFS, in %, average||7.4||7.0||7.3||7.0||7.0||6.8|
|Average gross monthly wages, EUR||467||463||490||.||.||.|
|Consumer prices, % p.a.||5.8||3.4||3.2||1.4||3.0||3.5|
|Fiscal balance in % of GDP||-5.5||-3.0||-2.2||.||.||.|
|Public debt in % of GDP||34.2||37.3||38.0||.||.||.|
|Current account in % of GDP||-4.4||-4.4||-1.1||-2.0||-2.2||-2.4|
|FDI inflow, EUR mn||1798||2127||2730||.||.||.|
|Gross external debt in % of GDP||75.0||75.4||68.0||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 11/2014
Gabor Hunya, Sebastian Leitner, Sandra M. Leitner and Robert Stehrer
wiiw Monthly Report No. 11, November 2014
37 pages including 25 Figures Details
ROMANIA: Investment slump
in: On Thin Ice: CESEE Core Resilient in the Face of EU Stagnation and the Ukraine Crisis
wiiw Forecast Report No. Autumn 2014, November 2014 , pp. 75-77 Details and Buy