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||2013||2014||2015||2016||2017||2018|
|Population, 1000 persons.||19984||19909||19815||.||.||.|
|GDP, real change in %||3.5||3.1||3.9||4.7||3.5||3.8|
|GDP per capita (EUR at PPP)||14600||15300||16500||.||.||.|
|Gross industrial production, real change in %||7.8||6.1||2.8||.||.||.|
|Unemployment rate - LFS, in %, average||7.1||6.8||6.8||6.2||6.0||6.0|
|Average gross monthly wages, EUR||489||524||575||.||.||.|
|Consumer prices, % p.a.||3.2||1.4||-0.4||-0.7||2.0||2.5|
|Fiscal balance in % of GDP||-2.1||-0.9||-0.8||.||.||.|
|Public debt in % of GDP||37.8||39.4||38.0||.||.||.|
|Current account in % of GDP||-1.1||-0.7||-1.2||-4.0||-5.0||-5.0|
|FDI inflow, EUR mn||2894||2931||3885||.||.||.|
|Gross external debt in % of GDP||68.0||63.0||56.5||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
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
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure