UPDATE CNP revised upward the growth forecast by 2020. Accusations of illegalities in PSD favor

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The National Commission for Economic Forecasting (CNP) has revised upward the growth forecast by 2020, these indicators are at the basis of the draft budget for 2017.

Thus, the growth estimate for the current year was revised from 4.3 percent in the Medium-term Autumn Prognosis 2016 – 2020, published in September to 5.2 percent. For 2018 the forecast was revised from 4.5 percent to 5.5 percent, for 2019 – from 4.7 percent to 5.7 percent and in 2020 from 4.2 percent to 5.7 percent.

GDP is estimated at RON 815.2 billion in 2017 (RON 807.4 billion in the previous forecast), to RON 878 billion in 2018 (RON 861.6 billion previously), to RON 946 billion in 2019 (RON 919.6 billion previously) and to RON 1.014 billion in 2020 (RON 977.2 billion previously).

Inflation forecast for 2017 was revised downward to an annual average of 1.4 percent versus 1.9 percent previously estimated by CNP. For the next three years, the forecast remained unchanged.

The average gross salary in the new forecast is estimated at RON 3,131 in 2017, up by 11.2 percent from the previous year, RON 3,418 in 2018, up by 9.2 percent, RON 3, 02 in 2019, up by 8.3 percent and RON 3,977 in 2020, up by 7.4 percent.

Meanwhile, Vice President of the budget-finance committee in the Senate, Liberal Citu Florin says there are suspicions that CNP has committed an illegality so as PSD and Liviu Dragnea to justify the 2017 budget drafting, news.ro informs.

“My opinion is that CNP was forced to take over the ‘swollen’ data from PSD government program to make it credible. Specifically, CNP’s winter forecast released on January 20, 2017 (two months earlier than normal) took over the figures in PSD governance program published on September 2016 in the smallest details,” economist Citu stated

Liberal Senator added that he would ask his liberals colleagues to file a penal complaint against CNP management.



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