IMF cuts forecast on Romania’s economic growth
The International Monetary Fund (IMF) revised its forecast on Romania’s economic growth this year to 4%, down by 1.1 percentage points compared to the April forecast.
The spring report indicated an economic growth of 5.1% for Romania this year, the second-highest in Europe after Malta (5.7%). The new estimation places Romania behind Malta, Ireland (4.7%), Slovenia (4.5%) and Poland (4.4%).
The IMF also slightly reduced its forecast on Romania’s economic growth in 2019, from 3.5% to 3.4%. The report also indicates an annual inflation rate of 4.7% this year and 2.7% next year.
The IMF’s new growth forecast is significantly lower than the one of the National Commission for Strategy and Prognosis, on which the Government’s budget for this year is based. The prognosis commission reduced its economic growth estimate this summer to 5.5% from 6.1% at the beginning of this year.