Romania should report a 1.4 percent economic growth this year - EBRD.
Romania should report a 1.4 percent economic growth this year and a
2.2 percent growth rate in 2014 given the negative effects of the euro
zone crisis on the South-Eastern Europe region and especially on
exports, estimates the European Bank for Reconstruction and Development
(EBRD).Romania is expected to consolidate its economic growth this year
on a "modest recovery" of demand and confidence, said EBRD
representatives. They forecast small GDP increases throughout the entire
region for 2013 which should pick up to an average of 2.2 percent in
2014.The EBRD estimation is in line with the forecasts made by the
European Commission and International Monetary Fund which estimate
Romania will post a GDP growth of 2.2 percent and 2 percent,
respectively.The Romanian government, on the other hand, has announced a
1.6 percent economic growth forecast for 2013. The central bank governor
Mugur Isarescu has recently commented that this could go beyond 1.6
percent should Romania report a good agricultural year.South-Eastern
Europe economies continue to be affected by the euro zone crisis
especially when it comes to exports. Economic slowdown in Poland and
Turkey has also taken its toll on the region. The Polish economy is
expected to grow by only 1.2 percent this year and 2 percent in 2014.
The forecast for neighboring Hungary is that its economy will drop by
0.8 percent this year and grow by 0.9 percent the next year. Bulgaria
should see its GDP grow by 1 percent this year and 2.4 percent in 2014.
Source: Business review Romania