Garanti Bank ups economic growth estimates for Romania

Turkish group Garanti Bank has revised upwards its forecast on Romania’s economic growth this year, to 4.4% per year from 4% at the beginning of this year.

The bank’s economists expect the evolution to be supported by services, industry and commerce.

The domestic demand will continue to be stimulated by the expansive fiscal policy, with the budget deficit expected to reach 3.5% of the GDP this year. Garanti also expects an inflation rate of 3.6% per year, at the end of this year.

Romania’s economic growth slows in the first quarter

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