Romanian economy will grow by 4.5% in 2018 and by 4.1% in 2019, as compared to the growth of 3.7% and 3.5% respectively as forecasted in June, reads the ‘Global Economic Prospects’ report, released on Tuesday by the World Bank.
The World Bank also expects a GDP growth of 6.4% in 2017, against 4.7% as forecasted in June last year. The pace of growth will slow down in 2020, when Romanian economy will increase by only 3.5%, the report reads.
The report underlines that several state companies have been depoliticized and the Boards of Directors have been professionalized during 2013-2016. In 2016, Romania adopted the law on state companies’ governance, which improves the criteria for selecting and the assessment of the management. Nevertheless, the implementation of the law is lagging behind and the resistance against changes is significant, the report reads.