WIIW The Vienna Institute for International Economic Studies - Wiener Institut für Internationale Wirtschaftsvergleiche

ROMANIA
Romania was one of the fastest growing European economies in 2013, driven by soaring exports of goods and services. One-time factors of growth such as the bumper harvest are expected to expire in 2014, reducing the rate of growth which may recover again in 2015 and 2016. The expanding, competitive manufacturing sector can drive further growth if external demand improves, FDI keeps flowing in and current infrastructure investment projects are finalised. While an IMF precautionary agreement anchors fiscal policy also in 2014, structural reforms and legislative improvements are expected to proceed sluggishly due to political crisis at the government level and the upcoming presidential elections.