“We revise down 2024 GDP growth to 1.9%. The first reading of 2Q24 GDP growth broadly confirmed the flash estimate and there were no significant changes to the historical data series. The Romanian economy expanded by 0.1% quarter to quarter and 0.8% year-on-year in 2Q24,” writes Vlad Ionita, BCR analyst.
“On the demand side the story is clear: the positive contributions of consumption and investments to the annual growth of the GDP were offset by net exports and inventories. In light of the recent data, we revise full-end GDP growth to 1.9% from 2.6% previously. We keep unchanged the 2025 growth estimate at 3.4% but the risks are tilted rather to the downside judging by external demand prospects and the likely fiscal consolidation.”
Romania’s Gross Domestic product grew by 0.7% in unadjusted series in the first half of 2024 compared with the first half of 2023. Following the publication of detailed results, financial analysts have updated their economic growth forecasts for 2024. All forecasts at the moment see economic growth in 2024 with the economy picking up speed in the second quarter.
(English version by Loredana Fratila-Cristescu)