The National Prognosis Commission (CNP) has released the forecasts for 2017-2021 and the estimates for the 2018 state budget reveal that the GDP will reach next year the level of RON 907.9 billion and the economy will register 5.5% growth.
CNP also says the final consumption will increase by 5.8%, the household consumption by 6.2%.
Inflation rate – expected to reach 2.6% at the end of 2018 and the exchange rate will vary around RON 4.55/EUR.
The average number of employees will increase by 4.2% against 2017, up to 5.13 million, whereas the average wage will increase by 11%, up to RON 2,614 per month. The real wage will increase by 7.7%.
CNP also shows that in 2018 the Government will lay stress on investments, constructions and services as well as on the increase of the potential GDP, rather than on consumption – i.e. a major change against the economic pattern in the latest years.
At mid September, CNP revised upwards the economic growth forecast in 2017 to 5.6% from the previous level of 5.2%.
According to the autumn preliminary estimates, the GDP will reach RON 837.1 billion this year, as compared to RON 816.5 billion in the previous spring forecast.
The GDP per capita is estimated to reach EUR 9,392 (EUR 9,279 in the spring forecast). In 2018 it will grow to EUR 10,243, in 2019 to EUR 11,140, in 2020 to EUR 12,063 and in 2012 to EUR 12,994.
CNP maintained the GDP growth estimates for 2018, 2019 and 2020 at 5.5%, 5.7% and 5.7% respectively, for 2021 the forecast is 5%.