Agriculture and the automotive sector will be the growth engines of the local economy in the next five years, said Ion Ghizdeanu, president of the National Prognosis Commission (CNP).

The country’s largest vulnerability is the dependence on the euro zone for foreign trade, he added, reports local Profit.ro.

The National Prognosis Commission is under the authority of the Finance Ministry. The Government bases its budget and economic projections on data from CNP. The institution has recently revised up its estimate on the country’s economic growth for this year, from 4.2% to 4.8%.

“We also hope that the research and innovation fields will grow to the actual size of the IT sector,” Ghizdeanu also said.

The CNP president added that Romania’s current economic growth is a “sustainable one”, as the investment dynamic exceeds the consumption dynamic.

editor@romania-insider.com