The International Monetary Fund (IMF) has revised upwards from 3.8% to 4.2% its estimates on Romania’s economic growth year, according to the latest IMF report 'World Economic Outlook' published yesterday by the international financial institution.

IMF has also slightly improved the growth rate expected in 2018, from 3.3% to 3.4%.

According to IMF, Romania will record the second highest economic increase in Europe this year, surpassed only by Iceland (5.7%).

Overall, Europe will record an economic growth of 2% whereas the Emerging Europe, a region that also includes Romania, will register a GDP advance of 3%. The economic outlook for Emerging Europe is relatively favorable, except for Turkey, according to the IMF report.

The consumer prices will increase by 1.3% in Romania this year, according to the IMF estimates. The inflation rate will accelerate to 3.1% next year.

The estimates on Romania’s current account deficit haven’t changed, and remained at 2.8% of the GDP this year. IMF has revised downwards the unemployment rate in Romania, which is estimated to reach 5.4% this year.

editor@romania-insider.com