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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Erste sees Romania’s GDP growing by over 4% in 2021-2022

Austrian financial group Erste Group Bank estimates that Romania will record economic growth of 4.2% this year and 4.5% in 2022.

Still, the speed and scale of the vaccination process remain the most important factors for the economic recovery of the Central and Eastern European (CEE) region in which the banking group operates.

Another key factor for this is the efficient use of grants from the European Union Relaunch and Resilience Fund (RRF).

Based on Erste's forecast, quoted by Agerpres, the convergence to the euro area region will pause in Romania, or slow down close to a standstill, at least this year.

In this context, Erste estimates GDP growth rates in CEE in 2021 to range between +3% to +5%.

"For some economies in the region, the GDP growth forecasts for 2021 have been slightly revised downwards. However, the growth scenario for 2021 in most Erste Group markets is generally above the average of +4.0% estimated for the euro area as a whole. In 2021, the GDP is expected to grow sharper in Croatia (+4.5%) and Serbia (+5.0%), while the economies of Hungary, Romania, and Slovakia are expected to rise by more than 4%, followed by the Czech Republic and Austria, with estimated increases of 3.3% and 2.8%, respectively."

According to Erste analysts, industrial production and GDP growth would return to normal in the second half of the year.

(Photo: Shutterstock)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Erste sees Romania’s GDP growing by over 4% in 2021-2022

Austrian financial group Erste Group Bank estimates that Romania will record economic growth of 4.2% this year and 4.5% in 2022.

Still, the speed and scale of the vaccination process remain the most important factors for the economic recovery of the Central and Eastern European (CEE) region in which the banking group operates.

Another key factor for this is the efficient use of grants from the European Union Relaunch and Resilience Fund (RRF).

Based on Erste's forecast, quoted by Agerpres, the convergence to the euro area region will pause in Romania, or slow down close to a standstill, at least this year.

In this context, Erste estimates GDP growth rates in CEE in 2021 to range between +3% to +5%.

"For some economies in the region, the GDP growth forecasts for 2021 have been slightly revised downwards. However, the growth scenario for 2021 in most Erste Group markets is generally above the average of +4.0% estimated for the euro area as a whole. In 2021, the GDP is expected to grow sharper in Croatia (+4.5%) and Serbia (+5.0%), while the economies of Hungary, Romania, and Slovakia are expected to rise by more than 4%, followed by the Czech Republic and Austria, with estimated increases of 3.3% and 2.8%, respectively."

According to Erste analysts, industrial production and GDP growth would return to normal in the second half of the year.

(Photo: Shutterstock)

andrei@romania-insider.com

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