The Macroeconomic Confidence Index of CFA Romania went up in October (by 5.6 points) to 53.0 points. This came amid an increase of both components of the index.
As regards the evolution of housing prices in cities, 47% of participants in the CFA survey expect them to go down, while the same percentage forecast stability in the next 12 months.
At the same time, 58% of participants believe current prices are overvalued and 29% that prices are accurately valued.
“Expectations of an economic rebound in 2024 amid rising public expenses probably led to an increased confidence in the economy. Also, the disinflationary process will continue, but at a slower pace, with the inflation rate expected to stay above 6% at the end of next year, fiscal policy remaining the main risk to the disinflationary process,” stated Adrian Codirlasu, Vice-President of CFA Romania Association.
In the case of the state budget gap anticipated for this year, the average value of expectations stands at 5.6%.
The real term growth of GDP for 2023 is put at 2%.
Public debt calculated as a percentage of GDP is expected to rise to 53% in the next 12 months.
(English version by Catalina Apostoiu)