JP Morgan ups 2013 economic increase forecast for Romania

JP Morgan improved its forecast on economic increase for Romania this year from a previous 1.5 percent, to 1.9 percent, after the 2012 GDP was revised by Romania's Statistics Institute.

JP Morgan expects agricultural to contribute 0.6 percentage points to the increase. For 2014, the bank kept its 2.3 percent economic growth estimation for Romania, and on the long term, Romania has a potential to achieve a 4 percent economic increase.

JP Morgan's forecast mentions the problematic absorption of European funds, as it can cause damage to economic increase by losing large amounts of money.

So far, the most optimistic economic increase prognosis came from UBS, with a 2.8 percent increase forecast for 2013. Internal estimations however point to an increase ranging from 0.5 to 1.6 percent for this year, with the more optimistic estimation coming from Romanian authorities.