EU Commissioner Gentiloni still sees "broad recovery" across Europe and in Romania

Paolo Gentiloni, the European Commissioner for the Economy, said during a visit to Bucharest that the European and Romanian economies are recovering strongly after the pandemic, and economic growth, both in Romania and in the EU, will be around 4% in 2022.

The statement seems overly optimistic given the context, while the likelihood of recession scenarios is no longer seen as negligible by analysts.

"The European economy is recovering strongly, and we expect, at the European level and in Romania, an increase of approximately 4%," Gentiloni said during a joint press conference with the minister of finance, Adrian Câciu.

However, the European Commissioner acknowledged that economic developments would be influenced by the war in Ukraine, but he added that if European states act in synergy, the impact of the war will have a limited effect.

"The war will affect this growth. We have already seen an impact on inflation, rising energy and food prices, and we can expect these figures to rise. Consumer and investor confidence in the economy is also declining. But if we act together, we will be able to limit the impact of this crisis," he said, quoted by Ziarul Financiar.

(Photo: Ministerul Finantelor Facebook Page)