Romania Economic Outlook: Resilience Facility is the key anchor in 2022 as reformist Government collapses

Romania's economy has performed better than expected under the impact of the COVID-19 pandemic, despite political uncertainty. However, after the center-right coalition fell apart in 2021, the hopes for reform and sustainable economic growth in the following years are pinned on the EU money that will come under the Resilience Facility.

In November 2020, the European Commission was forecasting 3.3% economic growth in 2021 - not enough to compensate what was expected at that time to be a 5.1% slowdown in the year Covid-19 hit the world. Even under the most pessimistic estimates, the economic recovery was at least double in 2021: close to 7%. While the slowdown was not so steep as initially believed: only 3.8% in 2020.