EY: Romania’s GDP will increase by 3.5% this year

Romania’s GDP will grow by 3.5% this year, according to new estimations from financial consultancy group EY. The economy will further increase by 3.7% next year, due to the strong domestic demand and the improving exports net balance. Even if the quarterly growth slowed down to only 0.1% in the second quarter of this year, the annual growth continued its pace, reaching 3.7%, compared to 3.8% in the first three months of the year, according to EY Romania specialists. The growth was mainly supported by consumption, but investments also saw an upward trend. The real income growth and the lower inflation will boost consumption during the last months of 2015 and in 2016, reads the EY document. Between 2017 and 2019, the economic growth will slow down, but will stabilize at an average of about 3% per year. editor@romania-insider.com