Fiscal situation triggers exchange rate forecast increase to RON 4.35 for EUR in 12 months
The perspectives of economic growth in the next 12 months is a weak one, triggered by the austerity measures and by the needed fiscal reforms which could be rolled out over the next two- three years. ING foresees a weak economic comeback in the third quarter of next year. However, on the medium and long term, the bank has kept a positive outlook on the leu.
ING expects a RON 4.2 per EUR rate in a month, up on the previous RON 4.15 per EUR estimation, as well as a RON 4.25 per EUR in three months, RON 4.2 per EUR again in six months, and a peak of RON 4.35 for EUR in 12 months.
The average rate for next year will stay at RON 4.24 per EUR, according to ING, up from a previously estimated RON 3.91 per EUR.