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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

IMF sees Romania’s economy going up by 7% this year

The International Monetary Fund (IMF) expects Romania’s GDP to grow by 7% this year, led by private consumption and accompanied by a transitory increase in inflation.

For next year, the projected growth is 4.8%. The IMF says the Romanian economy fared relatively well during the COVID-19 crisis, as the GDP contraction in 2020 (-3.9%) was significantly milder than the EU average (-6.2%).

“Effective and timely fiscal, monetary and financial policy easing helped to curb the economic downturn and the rise in unemployment,” the IMF wrote in a press release that marks the conclusion of 2021 Article IV Consultation with Romania.

IMF’s experts expect Romania’s output to recover to its pre-pandemic trajectory over the medium term, as protracted scarring from the pandemic is expected to be contained.

“Public investment will be boosted by a pickup of EU-funded projects, including through new resources under the NGEU funds and the EU 2021-27 multiannual budget. The current account deficit is projected to narrow moderately into the medium term as fiscal consolidation proceeds and growth decelerates toward potential,” reads the IMF’s assessment.

(Photo: Shutterstock)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

IMF sees Romania’s economy going up by 7% this year

The International Monetary Fund (IMF) expects Romania’s GDP to grow by 7% this year, led by private consumption and accompanied by a transitory increase in inflation.

For next year, the projected growth is 4.8%. The IMF says the Romanian economy fared relatively well during the COVID-19 crisis, as the GDP contraction in 2020 (-3.9%) was significantly milder than the EU average (-6.2%).

“Effective and timely fiscal, monetary and financial policy easing helped to curb the economic downturn and the rise in unemployment,” the IMF wrote in a press release that marks the conclusion of 2021 Article IV Consultation with Romania.

IMF’s experts expect Romania’s output to recover to its pre-pandemic trajectory over the medium term, as protracted scarring from the pandemic is expected to be contained.

“Public investment will be boosted by a pickup of EU-funded projects, including through new resources under the NGEU funds and the EU 2021-27 multiannual budget. The current account deficit is projected to narrow moderately into the medium term as fiscal consolidation proceeds and growth decelerates toward potential,” reads the IMF’s assessment.

(Photo: Shutterstock)

andrei@romania-insider.com

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