EC forecast: Romania’s economy up by 5.1% in 2021 and 4.9% in 2022

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Romania’s economy is expected to increase by 5.1% in 2021 and 4.9% in 2022, compared to the forecasts of 3.8% in 2021 and 4% in 2022, as estimated this February, according to the Spring 2021 Economic Forecast published by the European Commission on Wednesday.

Unemployment is projected at 5.2% in 2021 and 4.8% in 2022, from a 5% last year.

As for inflation in Romania, EC says that it will stand at 2.9% in 2021 and 2.7% in 2022, as against 2.3% in 2020.

At the same time, the EC forecast argues that the government deficit will narrow to 8% of GDP in 2021 and 7.1% of GDP in 2022, compared with 9.2% of GDP in 2020, while the current account deficit will stand at 4.9% of GDP in 2021 and 4.6% of GDP in 2022, down from 5% of GDP in 2020.

The European Commission expects the share of public debt in GDP to reach 49.7% this year, and 52.7% next year, from 47.3% last year.

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