At the same time, EBRD warns on potential increased geopolitical tensions and Eurozone uncertainties, the bank said in its latest economic outlook published Monday.
” We have kept our forecasts unchanged for the region’s largest economy, Romania, at 2.8 per cent, as rising confidence and investment and lower oil prices may be balanced by increased geopolitical tensions and Eurozone uncertainties,” the report reads.
For South-Eastern Europe, excluding Cyprus, EBRD estimates a 2.2% GDP growth in 2015, from 2.6% forecasted in its latest report. South-Eastern Europe includes Romania, Albania, Bosnia and Herzegovina, Bulgaria, Macedonia, Cyprus, Kosovo, Montenegro and Serbia.
The International Monetary Fund (IMF) and the European Commission (EC) estimate a 2.5% GDP growth for Romania in 2015, while the World Bank estimates Romania’s economy will grow 2.9% next year.
Countries across the EBRD regions are expected to see a contraction of 0.3% in 2015, after a forecast of 1.7% growth in September, mainly due to the Russian-Ukrainian conflict.