Romania’s economy grows 4.8% in 2022

Romania recorded an annual economic growth of 4.8% in 2022, down from 5.8% the year before, according to flash estimates published on Tuesday, February 14, by the National Statistics Institute (INS).

In the fourth quarter, the gross domestic product (GDP) increased by 1.1% compared to the previous quarter and by 4.6% vs the same period of 2021. Based on seasonally adjusted series, the year-on-year growth was 5% in Q4 2022.

The state forecasting body CNP forecasted a 4.9% GDP growth for 2022. In its latest report, it also kept its projection for 2.8% growth this year, followed by more marked advances in the years to come: 4.8% in 2024 and 5% in 2025.

According to the latest forecast issued by the European Commission, Romania’s GDP will increase by 2.5% this year. This is 0.7pp above the previous round of projections from the EC and not far from the official 2.8% growth projected under the scenario used by the Government for budget planning.

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