map Romania
Romania will suffer a significant economic growth slowdown to 2.5% in 2023, but – helped along by EU funds and a good harvest – its growth will still be above that of most of its peers. Inflation fell to single digits in August, but real incomes are proving slow to recover. The current account deficit has shrunk due to lower imports of goods and higher exports of services. High fiscal deficits jeopardise the country’s access to EU funds, but no harsh stabilisation measures will be necessary to keep most of the funds flowing. The rising political risks moderate our growth expectations for the election year of 2024.
Main Economic Indicators202020212022202320242025
Population, 1000 persons192651912219047...
GDP, real change in %-
GDP per capita (EUR at PPP)218002407027060...
Gross industrial production, real change in %-9.27.1-1.8...
Unemployment rate - LFS, in %, average5.
Average gross monthly wages, EUR107711251242...
Consumer prices, % p.a.
Fiscal balance in % of GDP-9.3-7.2-6.3-5.7-4.5-4.0
Public debt in % of GDP46.848.547.2...
Current account in % of GDP-4.9-7.2-9.1-7.0-5.6-5.2
FDI inflow, EUR m3056993310902...
Gross external debt in % of GDP57.556.550.3...

Basic data are continuously updated.

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


ROMANIA: How much fiscal consolidation?

Gabor Hunya
in: Beneath the Veneer of Calm
wiiw Forecast Report No. Autumn 2023, October 2023 , pp. 112-115
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Monthly Report No. 7-8/2023

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Meryem Gökten, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2023
51 pages including 3 Tables, 24 Figures and 1 Box