ING: Brexit will have a low impact on Romania’s economy on short term
The impact of Great Britain’s exit from the European Union (Brexit) on Romania’s macroeconomic situation should be relatively low, as the local economic growth is mostly connected to private consumption, and the direct links to the British…
Romania Insider · Journalist
· Updated · 1 min read
The impact of Great Britain’s exit from the European Union (Brexit) on Romania’s macroeconomic situation should be relatively low, as the local economic growth is mostly connected to private consumption, and the direct links to the British economy are reduced, according to ING Bank economists. However, the medium-term effects could be wider, especially on the EU funds segment. For example, the EU Funds Ministry has estimated that the nominal GDP was 10.6% higher due to the EU funds attracted during the programming period 2007-2013, and Great Britain had a contribution of 11% to EU’s total budget. Moreover, if Brexit weakens the EU on the medium and long term, this will negatively impact Romania both economically and geopolitically, according to ING economists. editor@romania-insider.com
