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The European Bank for Reconstruction and Development (EBRD) has improved the economic growth forecast for Romania in 2016 from 3.7% to 4%, according to new estimates announced on Wednesday at the annual meeting held in London.
For 2017, the European Bank predicts a GDP growth of 3.5% for Romania.
“In 2016 and 2017, strong domestic demand will continue to support economic growth. Consumption will be pushed upwards following the VAT cut from 24% to 20% in January 2016, by the increase of minimum wage by 19% in May 2016, by the wage increases planned in the public sector, by the improvement of economic sentiment and by an environment of low inflation,” EBRD says.
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