Prognosis Commission revises up forecast on Bucharest GDP growth

Romania’s National Prognosis Commission (CNP) estimates that Bucharest’s GDP will grow by 4.9% this year, to EUR 24,580 per inhabitant. In its fall prognosis, the commission estimated that Bucharest’s GDP would increase by 4.3% this year and that the GDP per inhabitant would reach EUR 24,102. CNP also estimates that the average monthly wage in Bucharest will go up by 9.2% this year, to RON 3,207 (EUR 704.8) per employee. By comparison, the fall prognosis included an average wage increase of 6.7%, to RON 3,185 (EUR 700) per employee. The average number of employees in Bucharest will increase by 3.6% (2.1% in the previous estimate), and the unemployment rate will go down to 1.7% (1.8% previously). In 2018, Bucharest’s GDP should go up by 5.3% and the GDP per inhabitant should reach EUR 26,601, according to the National Prognosis Commission. CNP increased its forecast for Romania’s economic growth in 2017 to 5.2%, at the beginning of the year, to reflect the optimistic expectations on which the Government has built its budget. editor@romania-insider.com