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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 [email protected] 

 

The Economist: RO economy, more resilient to the pandemic, but its recovery will also be slower

Romania’s economy will probably contract by 5.7% this year, which is less than the average decline in the euro area, said Matthew Sherwood, senior economist of the Economist Intelligence Unit, in the first online conference focused on Romania organized by the British financial magazine The Economist.

However, Romania will also see a slower recovery, of only 4% in 2021, and will return to the 2019 GDP level only in 2022, Sherwood added, according to local Agerpres.

He explained that this crisis has caught Romania better prepared financially than in 2009, but that the country has a tight fiscal space and lower institutional capacity to address this crisis.

Sherwood also said the configuration of the local political scene is also very important. „We expect the center-right parties, led by the Liberals, to win the general elections on December 6 and form a majority coalition,” he said, adding that a majority Government will make a big difference.

Romania needs a majority coalition to solve its current problems, according to Sherwood, who pointed to the major risk that the country’s sovereign rating is downgraded because of populist measures adopted by the Parliament.

[email protected]

(Photo source: Antonyesse/Dreamstime.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 [email protected] 

 

The Economist: RO economy, more resilient to the pandemic, but its recovery will also be slower

Romania’s economy will probably contract by 5.7% this year, which is less than the average decline in the euro area, said Matthew Sherwood, senior economist of the Economist Intelligence Unit, in the first online conference focused on Romania organized by the British financial magazine The Economist.

However, Romania will also see a slower recovery, of only 4% in 2021, and will return to the 2019 GDP level only in 2022, Sherwood added, according to local Agerpres.

He explained that this crisis has caught Romania better prepared financially than in 2009, but that the country has a tight fiscal space and lower institutional capacity to address this crisis.

Sherwood also said the configuration of the local political scene is also very important. „We expect the center-right parties, led by the Liberals, to win the general elections on December 6 and form a majority coalition,” he said, adding that a majority Government will make a big difference.

Romania needs a majority coalition to solve its current problems, according to Sherwood, who pointed to the major risk that the country’s sovereign rating is downgraded because of populist measures adopted by the Parliament.

[email protected]

(Photo source: Antonyesse/Dreamstime.com)

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