The European Bank for Reconstruction and Development (EBRD) revised upward its projection for Romania’s economic growth to a 4% this year (from 3.2% projected in May), according to the November issue of the Regional Economic Prospects.

The pace of growth in the EBRD’s emerging economies group is slowing on the back of a weaker global economic outlook, and pressure from slower growth in the Eurozone and China, US/Chinese trade tensions, and a contraction in world automobile production, according to the new EBRD report.

EBRD expects Romania as well as the region’s economies that are increasingly dependent on the automotive industry to “be highly vulnerable to weakness in the automotive sector and a further slowdown in Germany.”

Romania’s GDP would grow by only 3.2% in 2020, according to the revised outlook of the EBRD.

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