In all likelihood, expanding private consumption and a recovery in investments will lead to an acceleration in economic growth in the order of 3.4% in 2015. VAT cuts and wage rises in the public sector may further accelerate consumption growth in 2016, yet trigger an increase in the foreign trade deficit. On average, consumer prices are stable; unemployment is hovering just below 7%, while signs of structural labour shortages are emerging.
|Main Economic Indicators||2013||2014||2015||2016||2017||2018|
|Population, 1000 persons.||19984||19904||19880||.||.||.|
|GDP, real change in %||3.5||3.0||3.7||3.7||2.7||.|
|GDP per capita (EUR at PPP)||14400||15200||16200||.||.||.|
|Gross industrial production, real change in %||7.9||6.1||2.5||.||.||.|
|Unemployment rate - LFS, in %, average||7.1||6.8||6.8||6.7||6.6||.|
|Average gross monthly wages, EUR||489||524||565||.||.||.|
|Consumer prices, % p.a.||3.2||1.4||-0.4||1.0||2.0||.|
|Fiscal balance in % of GDP||-2.2||-1.4||-1.5||.||.||.|
|Public debt in % of GDP||38.0||39.8||38.7||.||.||.|
|Current account in % of GDP||-1.1||-0.5||-0.8||-0.7||-1.0||.|
|FDI inflow, EUR mn||2894||2931||3500||.||.||.|
|Gross external debt in % of GDP||68.0||63.1||57.0||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 1/2016 - Special Issue: Reality Check – wiiw Economists Reflect on 25 Years of Transition
Vladimir Gligorov, Peter Havlik, Gabor Hunya, Michael Landesmann, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 1, January 2016
42 pages including 3 Tables and 22 Figures
ROMANIA: Investments and consumption fuel growth
in: Mixed Prospects: Consumption Leads Fragile Recovery in the CESEE Core – CIS Stumbles
wiiw Forecast Report No. Autumn 2015, November 2015 , pp. 109-112 Details and Buy