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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

World Bank improves outlook for Romania's GDP growth

Romania's economy will grow by 6% this year, fully reversing the 3.9% contraction caused by the COVID-19 pandemic last year, according to updated Global Economic Prospects published by the World Bank.

The global outlook remains subject to significant downside risks, including the possibility of additional COVID-19 waves and financial stress amid high EMDE debt levels, the WB cautions.

The growth rate in Romania would further ease to 4.5% in 2022 and 3.9% in 2023, under the Bank's scenario.

The Bank has considerably improved its forecast on the advance of the Romanian economy in 2021, from a growth of 3.5% anticipated in January. The International Monetary Fund (IMF) also recently improved its projections, estimating an advance of 7% on May 30, after the Article IV consultations - an upgrade from its 6% forecast in April.

According to the World Bank, the global economy is expected to advance by 5.6% this year, the fastest recovery from a recession in 80 years, supported mainly by solid recoveries from several major economies, such as the US and China. The estimate for the growth of the global economy has been revised upwards by 1.5pp.

andrei@romania-insider.com

(Photo source: Deanpictures/Dreamstime.com)

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

World Bank improves outlook for Romania's GDP growth

Romania's economy will grow by 6% this year, fully reversing the 3.9% contraction caused by the COVID-19 pandemic last year, according to updated Global Economic Prospects published by the World Bank.

The global outlook remains subject to significant downside risks, including the possibility of additional COVID-19 waves and financial stress amid high EMDE debt levels, the WB cautions.

The growth rate in Romania would further ease to 4.5% in 2022 and 3.9% in 2023, under the Bank's scenario.

The Bank has considerably improved its forecast on the advance of the Romanian economy in 2021, from a growth of 3.5% anticipated in January. The International Monetary Fund (IMF) also recently improved its projections, estimating an advance of 7% on May 30, after the Article IV consultations - an upgrade from its 6% forecast in April.

According to the World Bank, the global economy is expected to advance by 5.6% this year, the fastest recovery from a recession in 80 years, supported mainly by solid recoveries from several major economies, such as the US and China. The estimate for the growth of the global economy has been revised upwards by 1.5pp.

andrei@romania-insider.com

(Photo source: Deanpictures/Dreamstime.com)

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