Prognosis Commission ups Romania's economic growth forecast for 2018

Romania’s National Prognosis Commission (CNP) has increased its economic growth forecast for 2018 from 5.5% to 6.1%, based on higher domestic consumption and investment expectations. The institution, which delivers the official economic prognosis the Government uses in its budgeting process, has also maintained the growth forecast for 2019 and 2020 at 5.7% and for 2021 at 5%. Romania’s gross domestic product (GDP) should go up to over EUR 200 billion this year, according to CNP forecasts. By 2021, the GDP should reach over EUR 250 billion. The forecasts of the international financial institutions are more reserved, with both the European Commission and the International Monetary Fund expecting a 4.4% increase of the Romanian economy this year while the World Bank has a growth forecast of 4.5%. EBRD: Romania needs to switch to investment-driven growth model editor@romania-insider.com