EBRD improves its growth forecast for Romania in 2019

The European Bank for Reconstruction and Development (EBRD) has improved its estimates of Romania's economy in 2019 and maintained its 2020 GDP forecast, according to a press statement released on Wednesday by the bank. According to the latest EBRD forecasts, Romania's economy is expected to grow 4pct this year, up from its previous estimates of May 2019's 3.2pct. For 2020 the EBRD kept the estimation regarding a 3.2pct expansion of the GDP of Romania. "Growth is expected at 4.0 per cent in 2019, moderating to 3.2 per cent in 2020 because of higher perceived investment risks and growing external imbalances. Key risks to the outlook are linked to weakness in major trading partners, not least the eurozone, rising labour shortages and domestic political and reform uncertainty," according to the November 2019 issues of the Regional Economic Prospects in the EBRD Regions. The International Monetary Fund (IMF) also upwardly revised in October to 4pct its estimates regarding the developments in the Romanian economy in 2019. While in April the IMF estimated that Romania will get an economic growth of 3.1pct this year, followed by a 3pct advance in 2020, in its report "World Economic Outlook", published in mid-October, the international financial institution upwardly revised the economic growth for the Romanian economy to 4pct in 2019 and 3.5pct in 2020. AGERPRES (AS - author: Mihaela Dicu, editor: Nicoleta Gherasi; EN - author; Corneliu-Aurelian Colceriu, editor: Adina Panaitescu)