Romania’s CFA macroeconomic confidence index steady in April at weak level

The CFA Romania Association's Macroeconomic Confidence Indicator remained relatively constant in April, at 38.1 points – a level well below the neutral 50-point benchmark. The current conditions indicator decreased slightly, by 0.7 points, and the expectations indicator increased by 0.2 points, resulting in a 0.1 point increase in the economic confidence indicator.

The survey underlying the indicator was carried out during a period of deterioration of the political climate, which resulted in the collapse of the ruling coalition and eventually the no-confidence motion against prime minister Ilie Bolojan.

The outlook for inflation over the next 12 months deteriorated slightly to 7.41%, News.ro reported.

Analysts also revised their projection for the full-year budget deficit to 6.4% of GDP, up from 6.2% under the March survey. They also cut down their forecast for the economic growth this year to only 0.4%.

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