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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

IMF: Romania’s economy grows by 7% this year, but its CA gap widens as well

The International Monetary Fund (IMF) revised its forecast for Romania’s economy upwards to 7% under its October 12 World Economic Outlook (WEO), up from 6% envisaged under its spring forecast round.

Nothing surprising, the figure is in line with the Government’s expectations and the latest World Bank forecast (+7.3%).

Among the European Union countries, only Ireland (13%), Estonia (8.5%) and Hungary (7.6%) will grow faster than Romania.

The country’s economy will further rise by 4.8% in 2022 to later stabilise around a growth rate of 3.5% (2026) under the Fund’s scenario.

On the downside, the IMF has revised its forecast for Romania’s current account (CA) and inflation forecast upwards. While the inflationary path is in line with a global pattern, Romania’s structural external deficit is specific to its economy and a growing concern.

The IMF expected under its spring forecast that Romania’s CA gap would subside to 4.5% of GDP (from 5.2% in 2020), but it revised its projection to 5.7% of GDP in 2021 and 5.5% of GDP in 2022.

iulian@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

IMF: Romania’s economy grows by 7% this year, but its CA gap widens as well

The International Monetary Fund (IMF) revised its forecast for Romania’s economy upwards to 7% under its October 12 World Economic Outlook (WEO), up from 6% envisaged under its spring forecast round.

Nothing surprising, the figure is in line with the Government’s expectations and the latest World Bank forecast (+7.3%).

Among the European Union countries, only Ireland (13%), Estonia (8.5%) and Hungary (7.6%) will grow faster than Romania.

The country’s economy will further rise by 4.8% in 2022 to later stabilise around a growth rate of 3.5% (2026) under the Fund’s scenario.

On the downside, the IMF has revised its forecast for Romania’s current account (CA) and inflation forecast upwards. While the inflationary path is in line with a global pattern, Romania’s structural external deficit is specific to its economy and a growing concern.

The IMF expected under its spring forecast that Romania’s CA gap would subside to 4.5% of GDP (from 5.2% in 2020), but it revised its projection to 5.7% of GDP in 2021 and 5.5% of GDP in 2022.

iulian@romania-insider.com

(Photo source: Shutterstock)

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