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The World Bank has improved slightly the advance estimates of the Romanian economy in 2016 to 4% from 3.9%, as estimated in January, according to the biannual report ‘Global Economic Prospects’ released on Tuesday.
However, the World Bank has significantly reduced the estimates of the Romanian economy in the next two years, when Romania’s GDP would grow by 3.7% and 3.4% respectively, by 0.4 percentage points and respectively by 0.6 percentage points less than in the January forecast.
The World Bank also estimates that the Europe and Central Asia region (ECA), which includes Romania, will register growth in 2016 of 1.2%, by 0.4 percentage points less than estimated in January, will accelerate to 2.5% in 2017 and to 2.8% 2018.
Overall, the World Bank estimates that the world economy will advance by 2.4% this year instead of 2.9% as expected in January, due to the small increase of advanced economies, to low price of raw materials and to the diminishing of capital flows.
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