Banca Transilvania forecasts GDP growth will weaken further in 2019
Romania's economic growth will keep weakening in 2019, to 2.8% from 4.1% in 2018 and 7% in 2017, against the backdrop of the post-crisis cycle at the external level and the challenges posed by the macroeconomic equilibrium and by the mix…
Romania Insider · Journalist
· Updated · 1 min read
Romania's economic growth will keep weakening in 2019, to 2.8% from 4.1% in 2018 and 7% in 2017, against the backdrop of the post-crisis cycle at the external level and the challenges posed by the macroeconomic equilibrium and by the mix of economic policies at the domestic level, said Andrei Rădulescu, head of macro research at country’s largest lender, Banca Transilvania.
Banca Transilvania's forecast is roughly half of the 5.5% growth projected by the Government’s forecasting body CNSP, used for the budget planning.
According to the bank's estimates, GDP growth could accelerate to 3.3% y/y in 2020 and 3.7% y/y in 2021 as a result of improving the investment climate, Ziarul Financiar reported.
“We will review this scenario in the coming period by incorporating 2018 data and possible changes in economic policy.”
According to data released by INS on Thursday, the quarterly growth rate of the seasonally-adjusted GDP slowed from 1.7% in the third quarter of 2018 (Q3) to 0.7% in Q4, 2018, the lowest dynamics since Q1.
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