Economic growth is projected to accelerate exceptionally to 4.7% in 2016. Private consumption has received a pro-cyclical boost by tax cuts and wage increases, while fixed investments have also continued to grow. With inflation climbing to positive levels and wage increases losing momentum, the consumption boom will settle down in 2017. An economic growth of 3.5% is expected for 2017 and 3.7% for 2018, thus helping the country to retain its relative robustness by international standards.
|Main Economic Indicators||2014||2015||2016||2017||2018||2019|
|Population, 1000 persons.||19909||19815||19830||.||.||.|
|GDP, real change in %||3.1||3.9||4.8||3.5||3.8||.|
|GDP per capita (EUR at PPP)||15300||16500||17300||.||.||.|
|Gross industrial production, real change in %||6.1||2.8||1.0||.||.||.|
|Unemployment rate - LFS, in %, average||6.8||6.8||6.0||6.0||6.0||.|
|Average gross monthly wages, EUR||524||575||646||.||.||.|
|Consumer prices, % p.a.||1.4||-0.4||-1.1||2.0||2.5||.|
|Fiscal balance in % of GDP||-0.9||-0.8||-2.0||.||.||.|
|Public debt in % of GDP||39.4||38.0||38.0||.||.||.|
|Current account in % of GDP||-0.7||-1.2||-2.4||-5.0||-5.0||.|
|FDI inflow, EUR mn||2931||3885||4804||.||.||.|
|Gross external debt in % of GDP||63.0||56.5||54.9||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
Monthly Report No. 1/2017
Rumen Dobrinsky, Doris Hanzl-Weiss, Gabor Hunya and Leon Podkaminer
wiiw Monthly Report No. 1, January 2017
45 pages including 1 Table and 33 Figures
ROMANIA: Sobering to follow upbeat
in: Labour Shortages Driving Economic Growth?
wiiw Forecast Report No. Autumn 2016, November 2016 , pp. 97-100 Details and Buy