„It is a downward trend because, in my opinion, the peak of the economic cycle has already been reached and in 2017, the country will no longer see the economic growth it saw this year. A simple argument – the fiscal consolidation necessary after all wage hikes, tax cuts and the lowering of the VAT rate. All these will impact investments,” CFA Romania head Adrian Codirlasu told MEDIAFAX on Tuesday.
CFA Romania survey also shows that conditions for the business environment will deteriorate next year, while the macroeconomic conditions worldwide are expected to decline.
The macroeconomic confidence index measured by CFA Romania rose by 0.6 points to 65.6 points on the month in November 2016.
CFA Romania Macroeconomic Confidence Index was launched in May 2011 and aims to evaluate financial analysts’ expectations regarding the economic activity in Romania for a one-year horizon.