Romania’s Gross Domestic Product (GDP) could exceed the 2008 level this year for the first time, supported by a recovery in domestic demand, according to Erste analysts.

“A number of positive indicators at the beginning of this year, such as the industrial production, exports, or retail sales, showed that the economy will grow faster than initial estimations in the first quarter,” according to an Erste report.

Bank analysts estimate a GDP growth of 3 percent this year in Romania, after a 3.5 percent increase in 2013. The growth is expected to continue in the coming years, to 3.3 percent in 2015, and 3.5 percent in 2016. The GDP stood at some EUR 140 billion in 2008.

editor@romania-insider.com