Banca Transilvania analysts expect an annual growth rate of 5.6% in 2017, of 4.4% in 2018 and of 4.5% in 2019.
”This scenario is based on dissipating the impact of the measures included in the new Tax Code, maintaining a high caution level among people and the perspective of a gradual increase in financing costs, on the backdrop of re-balancing the mix of economic policies,” said Banca Transilvania chief economist Andrei Radulescu.
Romanian adjusted retail sales, excluding vehicle sales, decreased 0.2% in April compared with March, while it unadjusted terms retail sales grew 2.6% on the month in April, data from the country’s statistics board showed Tuesday.
Adjusted fuel sales dropped 3.3% on the month in April, sales of food, beverages and tobacco dropped 0.3%, while sales of non-food items grew 0.7%.
Compared with April 2016, retail sales grew 6.1% in seasonally adjusted terms, as sales of non-food items grew 9.7%, fuel sales grew 7.9%, and sales of food, beverages and tobacco grew 0.7%. In unadjusted terms, retail sales grew 4.8% in April compared with April 2016.
Adjusted sales of non-food items grew 10.1% on the year in the first four months, fuel sales grew 9.6%, and sales of food, beverages and tobacco grew 2.1%, the data showed.