IMF will lower its economic growth estimate for Romania

The International Monetary Fund (IMF) will lower its economic growth estimate for Romania for this year to 4-4.5% from the current level of 5.1%, according to the IMF’s resident representative for Romania and Bulgaria.

The 5.1% estimate was based on data available in March this year while the new estimate, which will be released in October, will reflect the most recent indicators that show a deceleration of the Romanian economy, Hajdenberg said at Fondul Proprietatea’s annual investor conference, local reported.

The Romanian Government adopted this week a positive budget amendment which is based on an official economic growth estimate of 5.5% for this year. However, some analysts believe this level is unrealistic. Local lender Raiffeisen Bank, which currently has an estimate of 4.2% for Romania’s economic growth in 2018, will likely reduce its forecast closer to 3.5%, according to the bank’s chief economist Ionut Dumitru.