Prognosis Commission revises upwards to 4.9pc the GDP growth estimates for Bucharest in 2017

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The National Prognosis Commission (CNP) estimates a GDP growth for Bucharest by 4.9% in 2017 to EUR 24,580 per capita, according to the territorial forecast, winter variant.

In the autumn forecast version, CNP estimated a GDP growth of 4.3% and a GDP/capita of EUR 24,102.

The estimate of the average monthly earnings growth was also revised up to 9.2%, which is expected to reach RON 3,207/employee, as compared to 6.7% and EUR 3,185/employee in the autumn forecast.

The average number of employees will increase by 3.6% (2.1% the previous forecast), and the unemployment rate will be at 1.7% (1.8% previously).

For 2018, CNP expected an increase of GDP in Bucharest of 5.3% (as compared to 4.3% in the autumn forecast), a GDP per capita of EUR 26,601, an increase in the number of employees of 3.5% and an unemployment rate of 1.7%. The average net monthly earnings will increase by 9.1% to RON 3,499.

Nationwide, the Prognosis Commission estimates for 2017 a growth of 5.2%, the highest growth of GDP will be recorded in the South-West region of Oltenia, by 5.6%, followed by the Northeast region by 5.5%, and the lowest in Bucharest-Ilfov of 4.9%.

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