Economic growth is even stronger than last year, and could reach 4.2% in 2019, driven by household consumption and investment. Monetary and fiscal policy remains loose. Expanding deficits can be easily financed due to abundant international liquidity, albeit at a relatively high cost, constituting a burden for the future. Weaker external demand is already feeding through to industrial production, and will act as a barrier to growth in the future. We expect the interim government to take steps to curtail the fiscal deficit in 2020.

map Romania
Main Economic Indicators201720182019202020212022
Population, 1000 persons195871946619400...
GDP, real change in %
GDP per capita (EUR at PPP)1900020300....
Gross industrial production, real change in %7.93.5-2.0...
Unemployment rate - LFS, in %, average4.
Average gross monthly wages, EUR7059361039...
Consumer prices, % p.a.
Fiscal balance in % of GDP-2.6-2.9-4.5...
Public debt in % of GDP35.134.737.0...
Current account in % of GDP-2.8-4.4-5.2-5.0-4.9.
FDI inflow, EUR mn522562056300...
Gross external debt in % of GDP51.948.849.3...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


ROMANIA: New government to initiate fiscal consolidation

Gabor Hunya
in: Braced for Fallout from Global Slowdown
wiiw Forecast Report No. Autumn 2019, November 2019 , pp. 101-104
Details and Buy


Monthly Report No. 6/2019

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Hermine Vidovic and Goran Vuksic
wiiw Monthly Report No. 6, June 2019
27 pages including 24 Tables and 1 Figure