EBRD ups Romania's economic growth estimate for 2017

The European Bank for Reconstruction and Development (EBRD) has improved its estimate on Romania's economic growth in 2017 by 0.3 percentage points to 4%, according to the new EBRD forecast released yesterday. The expected growth rate remains below that anticipated by both the International Monetary Fund (IMF) and the Romanian government. For 2018, EBRD anticipates a 3.5% advance of the Romanian economy. In Central Europe and the Baltic countries, the EBRD expects a slight increase in the economic activity, to 3% in 2017, similar to the growth anticipated in Southeast Europe. In Russia, the EBRD forecasts an economic growth of 1.2% this year and 1.4% in 2018, after a contraction of about 3% over the past two years. The growth is backed by the oil price recovery. The IMF revised upwards from 3.8% to 4.2% its estimates on Romania’s economic growth this year, according to the latest IMF report 'World Economic Outlook' from mid-April. Meanwhile, the Romanian government has based this year’s budget on an expected economic growth rate of 5.2%. editor@romania-insider.com