The International Monetary Fund (IMF) has revised downwards the estimates regarding Romania’s economic growth to 3.1%, and expects higher inflation rate and current account deficit, according to the latest ‘World Economic Outlook’ report released on Tuesday.
In the previous report in October 2018, IMF estimated the growth to 3.4%. In 2020 the GDP growth is expected to reach 3%.
IMF expects economic growth in Poland and Romania to become moderate over medium term to 3%.
The evolution of consumer prices in 2019 in Romania is expected to reach 3.3%, up against the forecast last autumn of 2.7%.
The current account deficit will reach 5.2% of GDP, forecast up against the autumn one of 3.4%. In 2020 the deficit will reach 4.8% of GDP, the World Economic Outlook reads.
Expectations about unemployment are almost unchanged, of 4.8% this year and 4.9% in 2020.
The state budget this year is built on a gross GDP of RON 1,022 billion, expected to grow by 5.5% against 2018, an average inflation rate of 2.8% per annum and a budget deficit of 2.55% of GDP (cash) and 2.57% of GDP (ESA).