EBRD comment - Romania and the coronavirus: shock, response and recovery

EBRD economists Jakov Milatovic and Radu Cracan analyze the effects of the new coronavirus pandemic on the Romanian economy and the authorities' response to the crisis in this exclusive article for Romania-Insider.com.

In 2019 the Romanian economy continued growing at a robust rate of 4.1%. Growth was driven by a strong expansion of private consumption on the back of pro-cyclical fiscal policy, including public salary and pension hikes. That was before the coronavirus pandemic left Romania, and the rest of the world, grappling with uncertainty.