Raiffeisen Bank Romania revised downward its economic growth forecast for Romania, from 7.5% to 6.2%, in response to the Q3 flash GDP estimate issued by the statistics office INS.

Thus, compared to a 10.5% YoY advance expected by Raiffeisen Bank, the statistics office estimates an increase of only 7.2%.

The 0.3% QoQ GDP growth reported by INS was entirely due to the contribution of agriculture, according to Raiffeisen Bank chief economist of Ionuţ Dumitru, Ziarul Financiar reported.

For 2022, Raiffeisen Bank has maintained its growth forecast of 4.7% but, says Dumitru, there are many factors of uncertainty that can change the outlook, starting with the control of the pandemic, going through energy price issues and ending with the political situation.

andrei@romania-insider.com

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